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Non‐Deteriorating Choice
Author(s) -
BOSSERT WALTER,
SPRUMONT YVES
Publication year - 2009
Publication title -
economica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.532
H-Index - 65
eISSN - 1468-0335
pISSN - 0013-0427
DOI - 10.1111/j.1468-0335.2007.00671.x
Subject(s) - generalization , set (abstract data type) , function (biology) , choice set , computer science , mathematical economics , mathematical optimization , economics , econometrics , mathematics , mathematical analysis , evolutionary biology , biology , programming language
A reference‐dependent choice function is a generalization of a standard choice function where chosen alternatives may depend on a reference alternative in addition to the set of feasible options. Such a function is non‐deteriorating if there exists an ordering over the universal set of alternatives according to which the chosen alternatives are at least as good as the reference option. We characterize non‐deteriorating reference‐dependent choice functions in a general framework and in an economic environment.