Axioms for Lexicographic Preferences.
PENNSYLVANIA STATE UNIV UNIVERSITY PARK COLL OF BUSINESS ADMINISTRATION
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Two formulations for lexicographic preferences are characterized by axioms which avoid direct reference to the importance ordering of wants or criteria that is part of the lexicographic principle. A condition which identifies the noncompensatory nature of lexicographic preferences emerges in each axiomatization. The first formulation involves preference orders on a set of alternatives for each of n criteria or wants along with corresponding holistic preference orders the second begins with a fixed preference order on a product set. When the number of criteria is infinite, preferences need be lexicographic only in a restricted sense. Author
- Operations Research