Additive Representation for Preferences Over Menus in Finite Choice Settings
14 Pages Posted: 6 Feb 2011 Last revised: 10 Oct 2012
Date Written: September 2012
Abstract
This paper proves that the additive representation of Dekel-Lipman-Rustichini (2001) is consistent with any preference relation among the deterministic alternatives in their model. The result yields an additive representation which relaxes both the monotonicity and ordinal sub-modularity axioms in Kreps (1979) flexibility representation theorem.
Keywords: Dynamic choice, Preference for flexibility, Preference for commitment
JEL Classification: D81
Suggested Citation: Suggested Citation
Gorno, Leandro, Additive Representation for Preferences Over Menus in Finite Choice Settings (September 2012). Economic Theory Center Working Paper No. 044-2012, Available at SSRN: https://ssrn.com/abstract=1755250 or http://dx.doi.org/10.2139/ssrn.1755250
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