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A numerical representation of acyclic preferences when non-comparability and indifference are concepts with different meaning

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  • Leobardo Plata-Perez

    (Universidad Autonoma de San Luis Potosi)

Abstract

The use of utility functions implies transitivity and completeness of preferences. Empirical evidence shows that these conditions fail in several individual cases. Acyclicity of preferences represents an interesting weakness of preference rationality, because it admits intransitivity of indifference and noncomparability between some alternatives. Utility correspondences were introduced by Subiza (1994) as a numerical representations of acyclic preferences. Subiza's framework is modified in this paper in order to obtain numerical representations in which we can interpret non-comparability and indifference as concepts with different meaning. Both concepts have been considered with the same meaning in the standard presentations that assume strict preference as a primitive concept.

Suggested Citation

  • Leobardo Plata-Perez, 2004. "A numerical representation of acyclic preferences when non-comparability and indifference are concepts with different meaning," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 1(0), pages 17-23, Enero - J.
    • Handle: RePEc:qua:journl:v:1:y:2004:i:0:p:17-23
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    References listed on IDEAS

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    1. Pedro Uribe, 1996. "Consumidores con preferencias no ordenadas," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 11(1), pages 55-76.
    2. Avraham Beja & Itzhak Gilboa, 1989. "Numerical Representations of Imperfectly Ordered Preferences (A Unified Geometric Exposition," Discussion Papers 836, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    3. Begoña Subiza Martínez, 1993. "Numerical Representation Of Acyclic Preferences," Working Papers. Serie AD 1993-09, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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