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Maximal Elements Under Reference-Dependent Preferences with Applications to Behavioral Traps and Games |
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| Authors: | Fabián Flores-Bazán Dinh The Luc Antoine Soubeyran |
| Institution: | 1. CI2MA, Departamento de Ingenier??a Matem??tica, University of Concepcion, Concepcion, Chile 2. LANG, University of Avignon, Avignon, France 3. GREQAM, University of Aix-Marseille, Marseille, France |
| Abstract: | We study reference-dependent preference relations defined by a real-valued bivariate function and prove an existence criterion for maximal elements. Then we formulate a generalized version of the well-known Brondsted maximum principle and apply it to behavioral traps and Nash equilibrium in games with preference relations that are not necessarily partial orders. |
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