Preference Relations (preference + relation)

Distribution by Scientific Domains


Selected Abstracts


IS STATUS QUO BIAS CONSISTENT WITH DOWNWARD-SLOPING DEMAND?

ECONOMIC INQUIRY, Issue 2 2008
DONALD WITTMAN
We show that status quo bias combined with downward-sloping demand implies addictive behavior. This result does not depend on transitivity, a complete ordering, or even the existence of a preference relation that rationalizes choices. (JEL D11, D81) [source]


Towards a general and unified characterization of individual and collective choice functions under fuzzy and nonfuzzy preferences and majority via the ordered weighted average operators

INTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS, Issue 1 2009
Janusz Kacprzyk
A fuzzy preference relation is a powerful and popular model to represent both individual and group preferences and can be a basis for decision-making models that in general provide as a result a subset of alternatives that can constitute an ultimate solution of a decision problem. To arrive at such a final solution individual and/or group choice rules may be employed. There is a wealth of such rules devised in the context of the classical, crisp preference relations. Originally, most of the popular group decision-making rules were conceived for classical (crisp) preference relations (orderings) and then extended to the traditional fuzzy preference relations. In this paper we pursue the path towards a universal representation of such choice rules that can provide an effective generalization,for the case of fuzzy preference relations,of the classical choice rules. 2008 Wiley Periodicals, Inc. [source]


Interdependent Preferences and Groups of Agents

JOURNAL OF PUBLIC ECONOMIC THEORY, Issue 1 2001
Stanley Reiter
An individual's preferences are assumed to be malleable and may be influenced by the preferences of others. Mutual interaction among individuals whose preferences are interdependent powers a dynamic process in which preference profiles evolve over time. Two formulations of the dynamic process are presented. One is an abstract model in which the iteration of a mapping from profiles to profiles defines a discrete time dynamic process; the other is a linear discrete time process specified in more detail. Examples motivate the model and illustrate its application. Conditions are given for the existence of a stable preference profile,a rest point of the dynamic process. A stable profile is naturally associated with a division, not in general unique, of the set of agents into subgroups with the property that preference interdependencies within a subgroup are "stronger" than those across subgroups. The conventional case in which each agent's preference relation is exogenously given is, in this model, the special case where each subgroup consists of just one agent. [source]


Pareto Equilibria with coherent measures of risk

MATHEMATICAL FINANCE, Issue 2 2004
David Heath
In this paper, we provide a definition of Pareto equilibrium in terms of risk measures, and present necessary and sufficient conditions for equilibrium in a market with finitely many traders (whom we call "banks") who trade with each other in a financial market. Each bank has a preference relation on random payoffs which is monotonic, complete, transitive, convex, and continuous; we show that this, together with the current position of the bank, leads to a family of valuation measures for the bank. We show that a market is in Pareto equilibrium if and only if there exists a (possibly signed) measure that, for each bank, agrees with a positive convex combination of all valuation measures used by that bank on securities traded by that bank. [source]


Continuity properties of preference relations

MLQ- MATHEMATICAL LOGIC QUARTERLY, Issue 5 2008
Marian A. Baroni
Abstract Various types of continuity for preference relations on a metric space are examined constructively. In particular, necessary and sufficient conditions are given for an order-dense, strongly extensional preference relation on a complete metric space to be continuous. It is also shown, in the spirit of constructive reverse mathematics, that the continuity of sequentially continuous, order-dense preference relations on complete, separable metric spaces is connected to Ishihara's principleBD -,, and therefore is not provable within Bishop-style constructive mathematics alone. ( 2008 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim) [source]


Induced choquet ordered averaging operator and its application to group decision making

INTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS, Issue 1 2010
Chunqiao Tan
Yager (Fuzzy Sets Syst 2003;137:59,69) extended the idea of order-induced aggregation to the Choquet aggregation and defined a more general type of Choquet integral operator called the induced Choquet ordered averaging (I-COA) operator, which take as their argument pairs, in which one component called order-inducing variable is used to induce an ordering over the second components called argument variable and then aggregated. The aim of this paper is to develop the I-COA operator. Some of its properties are investigated. We show its relationship to the induced-ordered weighted averaging operator. Finally, we provide some I-COA operators to aggregate fuzzy preference relations in group decision-making problems. 2009 Wiley Periodicals, Inc. [source]


Towards a general and unified characterization of individual and collective choice functions under fuzzy and nonfuzzy preferences and majority via the ordered weighted average operators

INTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS, Issue 1 2009
Janusz Kacprzyk
A fuzzy preference relation is a powerful and popular model to represent both individual and group preferences and can be a basis for decision-making models that in general provide as a result a subset of alternatives that can constitute an ultimate solution of a decision problem. To arrive at such a final solution individual and/or group choice rules may be employed. There is a wealth of such rules devised in the context of the classical, crisp preference relations. Originally, most of the popular group decision-making rules were conceived for classical (crisp) preference relations (orderings) and then extended to the traditional fuzzy preference relations. In this paper we pursue the path towards a universal representation of such choice rules that can provide an effective generalization,for the case of fuzzy preference relations,of the classical choice rules. 2008 Wiley Periodicals, Inc. [source]


Induced ordered weighted geometric operators and their use in the aggregation of multiplicative preference relations

INTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS, Issue 3 2004
F. Chiclana
In this article, we introduce the induced ordered weighted geometric (IOWG) operator and its properties. This is a more general type of OWG operator, which is based on the induced ordered weighted averaging (IOWA) operator. We provide some IOWG operators to aggregate multiplicative preference relations in group decision-making (GDM) problems. In particular, we present the importance IOWG (I-IOWG) operator, which induces the ordering of the argument values based on the importance of the information sources; the consistency IOWG (C-IOWG) operator, which induces the ordering of the argument values based on the consistency of the information sources; and the preference IOWG (P-IOWG) operator, which induces the ordering of the argument values based on the relative preference values associated with each one of them. We also provide a procedure to deal with "ties" regarding the ordering induced by the application of one of these IOWG operators. This procedure consists of a sequential application of the aforementioned IOWG operators. Finally, we analyze the reciprocity and consistency properties of the collective multiplicative preference relations obtained using IOWG operators. 2004 Wiley Periodicals, Inc. [source]


Continuity properties of preference relations

MLQ- MATHEMATICAL LOGIC QUARTERLY, Issue 5 2008
Marian A. Baroni
Abstract Various types of continuity for preference relations on a metric space are examined constructively. In particular, necessary and sufficient conditions are given for an order-dense, strongly extensional preference relation on a complete metric space to be continuous. It is also shown, in the spirit of constructive reverse mathematics, that the continuity of sequentially continuous, order-dense preference relations on complete, separable metric spaces is connected to Ishihara's principleBD -,, and therefore is not provable within Bishop-style constructive mathematics alone. ( 2008 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim) [source]