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General solutions for choice sets: The Generalized Optimal-Choice Axiom set

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  • Andrikopoulos, Athanasios
  • Zacharias, Eleftherios

Abstract

In this paper we characterize the existence of best choices of arbitrary binary relations over non finite sets of alternatives, according to the Generalized Optimal-Choice Axiom condition introduced by Schwartz. We focus not just in the best choices of a single set X, but rather in the best choices of all the members of a family K of subsets of X. Finally we generalize earlier known results concerning the existence (or the characterization) of maximal elements of binary relations on compact subsets of a given space of alternatives.

Suggested Citation

  • Andrikopoulos, Athanasios & Zacharias, Eleftherios, 2008. "General solutions for choice sets: The Generalized Optimal-Choice Axiom set," MPRA Paper 11645, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:11645
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    References listed on IDEAS

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    More about this item

    Keywords

    Generalized Optimal-Choice Axiom; maximal elements; acyclicity; consistency; ≻-upper compactness;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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