Convex preferences: A new definition
提出一种不依赖代数结构的偏好凸性新定义,基于一组评价标准,并证明严格凸偏好可由标准效用函数的最小最大值表示。
We suggest a concept of convexity of preferences that does not rely on any algebraic structure. A decision maker has in mind a set of orderings interpreted as evaluation criteria. A preference relation is defined to be convex when it satisfies the following condition: If, for each criterion, there is an element that is both inferior to b by the criterion and superior to a by the preference relation, then b is preferred to a . This definition generalizes the standard Euclidean definition of convex preferences. It is shown that under general conditions, any strict convex preference relation is represented by a maxmin of utility representations of the criteria. Some economic examples are provided.