In many situations a decision maker has incomplete psychological preferences, and the weak axiom of revealed preference (WARP) is often violated. In this paper we relax WARP, and replace it with convex axiom of revealed non-inferiority (CARNI). An alternative x is revealed inferior to y if x is...

We prove the existence of a Pareto optimal state of a society with non-binary personal preferences. To our knowledge, this is the weakest set of conditions under which the existence of a Pareto optimal state has been proven. In our theory everybody in society engages in maximization as a...

We prove the existence of a Pareto optimal state of a finite society that has socially differentiated persons, each with non-binary personal preferences that quasi-order a finite set of alternatives. Everybody engages in a volitional act of choice by maximization of non-binary preferences. As a...

Most existing decision-making models assume that choice behavior is based on preference maximization even when the preferences are incomplete. In this paper we study an alternative approach – “justifiable choice”: each agent has several preference relations (“justifications”), and she...

This book uses game theory to analyze the strategies developed in negotiation processes. Offering a detailed analysis of competition and cooperation, it explores various bargaining strategies that result from the application of Nash equilibrium and mixed strategies. Employing a blend of game...