Variable preference relations: existence of maximal elements
Résumé
We consider variable preference relations, called also reference depen- dent preference relations which are typical in the study of dynamic models in economic theories. Elementary properties of variable preference rela- tions are established including consistency and acyclicity. The main result of the paper is on an existence criterion for maximal elements of a set equipped with a variable preference relation. It is proven in a rather sim- ple way, but generalizes a number of results known in the recent literature on maximum principles on a space with or without topological structure.
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