A NaP-preference (necessary and possible preference) is a pair of binary relations on a nonempty set with the properties that its first component is reflexive and transitive, its second component is an extension of the first, and the two components jointly satisfy natural forms of mixed transitivity and mixed completeness. We give an account of the most recent research in the field of NaP-preferences, as well as its natural connection with the theory of revealed preferences. This analysis requires that the revealing choice function satisfies suitable axioms of replacement consistency. Further, we associate to a NaP-preference a notion of indiscernibility, and link it to the correspondent notion defined in individual choice theory by using a revealed bi-preference approach.

Revealed choice theory and NaP-preferences: a unified approach via axioms of replacement

GIARLOTTA, Alfio
2014-01-01

Abstract

A NaP-preference (necessary and possible preference) is a pair of binary relations on a nonempty set with the properties that its first component is reflexive and transitive, its second component is an extension of the first, and the two components jointly satisfy natural forms of mixed transitivity and mixed completeness. We give an account of the most recent research in the field of NaP-preferences, as well as its natural connection with the theory of revealed preferences. This analysis requires that the revealing choice function satisfies suitable axioms of replacement consistency. Further, we associate to a NaP-preference a notion of indiscernibility, and link it to the correspondent notion defined in individual choice theory by using a revealed bi-preference approach.
NaP-preference; Revealed preference; Individual choice; Axioms of replacement consistency
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.11769/104412
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