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Justifiable preferences over opportunity sets

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  • Somdeb Lahiri

Abstract

In this paper we say that a preference over opportunity sets is justifiable if there exists a reflexive and complete binary relation on the set of alternatives, such that one opportunity set is at least as good as a second, if and only if the there is at least one alternative from the first set which is no worse than any alternative of the two sets combined together, with respect to the binary relation on the alternatives. In keeping with the revered tradition set by von Neumann and Morgenstern we call a reflexive and complete binary relation, an abstract game (note: strictly speaking von Neumann and Morgenstern refer to the asymmetric part of a reflexive and complete binary relation as an abstract game; hence our terminology though analytically equivalent, leads to a harmless corruption of the original meaning). In this paper we obtain a necessary and sufficient condition for the justifiability of transitive and quasi transitive preferences over opportunity sets. Copyright Springer-Verlag 2003

Suggested Citation

  • Somdeb Lahiri, 2003. "Justifiable preferences over opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 21(1), pages 117-129, August.
    • Handle: RePEc:spr:sochwe:v:21:y:2003:i:1:p:117-129
    DOI: 10.1007/s00355-003-0205-2
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    Cited by:

    1. V. Danilov & G. Koshevoy & E. Savaglio, 2015. "Hyper-relations, choice functions, and orderings of opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(1), pages 51-69, June.
    2. Dan Qin, 2014. "A note on justifiable preferences over opportunity sets," Economics Bulletin, AccessEcon, vol. 34(3), pages 1961-1967.
    3. Somdeb Lahiri, 2018. "Indirect Utility Reflecting Anxiety and Flexibility of Choice," Journal of Economics and Management, College of Business, Feng Chia University, Taiwan, vol. 14(1), pages 33-50, February.
    4. Dan Qin, 2015. "On justifiable choice functions over opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(2), pages 269-285, September.
    5. Jimena Galindo & Levent Ülkü, 2020. "Diversity relations over menus," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 55(2), pages 229-242, August.
    6. Matthew Ryan, 2014. "Path independent choice and the ranking of opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 42(1), pages 193-213, January.
    7. Dan Qin & Matthew Ryan, 2016. "Rationalizability of Plott consistent choice functions: a corrigendum," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 47(3), pages 761-762, October.

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