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PKP Metadata Items |
Metadata for this document |
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| 1. |
Title |
Title of document |
"Convex preferences": a new definition |
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| 2. |
Creator |
Author's name, affiliation |
Michael Richter; Baruch College, Zicklin School of Business and Royal Holloway, University of London |
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| 2. |
Creator |
Author's name, affiliation |
Ariel Rubinstein; School of Economics, Tel Aviv Univeristy and Department of Eocnomics, New York University |
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| 3. |
Subject |
Subject(s) |
Convex preferences, abstract convexity, maxmin utility |
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| 3. |
Subject |
Subject classification |
D01, C60 |
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| 4. |
Description |
Abstract |
We suggest a concept of convexity of preferences that does not rely on any algebraic structure. A decision maker has in mind a set of orderings interpreted as evaluation criteria. A preference relation is defined to be convex when it satisfies the following: if for each criterion there is an element that is both inferior to b by the criterion and superior to a by the preference relation, then b is preferred to a. This definition generalizes the standard Euclidean definition of convex preferences. It is shown that under general conditions, any strict convex preference relation is represented by a maxmin of utility representations of the criteria. Some economic examples are provided. |
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| 5. |
Publisher |
Organizing agency, location |
Econometric Society |
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Contributor |
Sponsor(s) |
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| 7. |
Date |
(YYYY-MM-DD) |
2019-12-02 |
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| 8. |
Type |
Status & genre |
Peer-reviewed Article |
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| 8. |
Type |
Type |
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| 9. |
Format |
File format |
pdf
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| 10. |
Identifier |
Universal Resource Indicator |
https://econtheory.org/ojs/index.php/te/article/view/20191169 |
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| 11. |
Source |
Journal/conference title; vol., no. (year) |
Theoretical Economics; Volume 14, Number 4 (November 2019) |
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| 12. |
Language |
English=en |
en |
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| 15. |
Rights |
Copyright and permissions |
Authors who publish in Theoretical Economics will release their articles under the Creative Commons Attribution-NonCommercial license. This license allows anyone to copy and distribute the article for non-commercial purposes provided that appropriate attribution is given. |