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A topological characterization of the existence of w-stable sets

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  • Athanasios Andrikopoulos
  • Nikolaos Sampanis

Abstract

The theory of optimal choice sets is a solution theory that has a long and well-established tradition in social choice and game theories. Some of important general solution concepts of choice problems when the set of best alternatives does not exist (this problem occurs when the preferences yielded by an economic process are cyclic) is the Stable Set (Von Neumann-Morgenstern set) and its variants (Generalized Stable set, Extended Stable set, m-Stable set and w-Stable set). The theory of w-stable sets solution is more realistic because: (1) It solves the existence problem of solution; (2) It expands the notions of maximal alternative set and (3) The concept of stability is defined in such a way as to prevent a chosen alternative from being dominated by another alternative and sets this stability within the solution. In this paper, we present a topological characterization of the existence of w-Stable sets solution of arbitrary binary relations over non-finite sets of alternatives.

Suggested Citation

  • Athanasios Andrikopoulos & Nikolaos Sampanis, 2024. "A topological characterization of the existence of w-stable sets," Papers 2403.04512, arXiv.org.
    • Handle: RePEc:arx:papers:2403.04512
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    1. Robert Delver & Herman Monsuur, 2001. "Stable sets and standards of behaviour," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(3), pages 555-570.
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    3. Alcantud, J. C. R. & Rodriguez-Palmero, C., 1999. "Characterization of the existence of semicontinuous weak utilities," Journal of Mathematical Economics, Elsevier, vol. 32(4), pages 503-509, December.
    4. Peris, Josep E. & Subiza, Begoña, 2013. "A reformulation of von Neumann–Morgenstern stability: m-stability," Mathematical Social Sciences, Elsevier, vol. 66(1), pages 51-55.
    5. Athanasios Andrikopoulos, 2007. "A representation of consistent binary relations," Spanish Economic Review, Springer;Spanish Economic Association, vol. 9(4), pages 299-307, December.
    6. Athanasios Andrikopoulos, 2023. "A topological characterization of generalized stable sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 61(1), pages 1-9, July.
    7. Kalai, Ehud & Schmeidler, David, 1977. "An admissible set occurring in various bargaining situations," Journal of Economic Theory, Elsevier, vol. 14(2), pages 402-411, April.
    8. Han, Weibin & Van Deemen, Adrian, 2016. "On the solution of w-stable sets," Mathematical Social Sciences, Elsevier, vol. 84(C), pages 87-92.
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