کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5072638 | 1373511 | 2009 | 15 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Indifference and incompleteness distinguished by rational trade
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We use an agent's strict preferences to define indifference and incompleteness relations that identify the sequences of trades that are rational to undertake. If an agent makes sequences of trades of options labeled indifferent, the agent will never be led to an inferior outcome, but trades of options where no preference judgments obtain can lead to diminished welfare. For one-shot choices, in contrast, there can be no behavioral distinction between indifference and incompleteness. Applications include: an isomorphism for incomplete preferences that indicates when weak and strict preferences contain interchangeable information, a characterization of the (possibly incomplete) preference relations consistent with a one-shot choice function, and an equivalent definition of incompleteness that relies on the philosophical theory of incommensurability.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Games and Economic Behavior - Volume 67, Issue 1, September 2009, Pages 300-314
Journal: Games and Economic Behavior - Volume 67, Issue 1, September 2009, Pages 300-314
نویسندگان
Michael Mandler,