Incomplete Variational Preferences
Chambers, Robert G.
Chambers, Robert G., Tigran Melkonyan, and John Quiggin. 2017. Incomplete Variational Preferences. University of Maryland, Department of Agricultural and Resource Economics Working Papers, WP 17-06.
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We examine incomplete preference structures in a framework that allows for various relaxations of the independence axiom. We derive preference representations in terms of willingness-to-pay measures, and demonstrate how these representation can be used to determine preference incompleteness and to elicit preferences empirically.