An axiomatic approach to complete patience and time invariance

Article Abstract:

Intertemporal problems, particularly those concerned with comparing streams of payoffs in undiscounted cases, may be efficiently addressed by adopting an axiomatic approach. This approach does not only consider behavioral factors, but take account of various choice criteria and long-term prospects, as well. The approach may be even made more efficient by employing a time averaging criteria wherein the patience of all periods are equally weighted.

Author: Marinacci, Massimo
Publisher: Elsevier B.V.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1998
Economics, Research and Development in the Social Sciences and Humanities, Methods, Models, Economic research

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A completeness result for extending signed orders

Article Abstract:

A lexicographic weak extension of signed orders is formulated using two closely related extension axioms. The lexicographic ordering extension considers extended preferences from individual commodities to subsets of commodities. The extension, which satisfies Fisburn's monotone extension conditions as presented in his paper on signed orders, also provides a completeness result for extending signed preference orders.

Author: Yunfeng, Luo, Yue, Chaoyuan, Ting, Chen
Publisher: Elsevier B.V.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1996
Research, Consumer preferences, Axiomatic set theory, Ordered sets

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