Demand correspondence for pseudo-transitive preferences |
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Authors: | Josep E Peris Begoa Subiza |
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Institution: | Josep E. Peris,Begoña Subiza |
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Abstract: | This paper deals with the existence and properties of the demand correspondence when agents' preferences are pseudo-transitive. It is known that with these kinds of preferences a utility function that characterizes the maximal elements of the relation does not generally exist. In this work we use a representation of the preferences by means of two real functions in order to establish that the demand correspondence is upper-hemicontinuous with non-empty and compact values. |
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Keywords: | Demand correspondence Pseudo-transitive preferences Maximal elements |
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