Additive Representation for Preferences Over Menus in Finite Choice Settings

14 Pages Posted: 6 Feb 2011 Last revised: 10 Oct 2012

See all articles by Leandro Gorno

Leandro Gorno

FGV EPGE Brazilian School of Economics and Finance

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

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

Leandro Gorno (Contact Author)

FGV EPGE Brazilian School of Economics and Finance ( email )

Praia de Botafogo 190
Rio de Janeiro, RJ 22250-900
Brazil

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