Related papers: Preferences Relations and Consumer Theory
A multicriteria group choice problem is considered in the paper. The model includes a set of feasible alternatives, a vector criterion, and n preference relations of the decision makers (DMs). Each preference relation is a cone relation…
We look at preference change arising out of an interaction between two elements: the first is an initial preference ranking encoding a pre-existing attitude; the second element is new preference information signaling input from an…
In consumer theory, ranking available objects by means of preference relations yields the most common description of individual choices. However, preference-based models assume that individuals: (1) give their preferences only between pairs…
The binary relation framework has been shown to be applicable to many real-life preference handling scenarios. Here we study preference contraction: the problem of discarding selected preferences. We argue that the property of minimality…
In a context where a decision has to be taken collectively by several agents, the social choice problem consists in deciding whether there exists a socially acceptable rule that aggregates the individual preferences of the agents into a…
We revisit a classical question of how individual consumer preferences and incomes shape aggregate behavior. We develop a method that applies to populations with homothetic preferences and reduces the hard problem of aggregation to simply…
A central push in operations models over the last decade has been the incorporation of models of customer choice. Real world implementations of many of these models face the formidable stumbling block of simply identifying the `right' model…
The algebra of transactions as fundamental measurements is constructed on the basis of the analysis of their properties and represents an expansion of the Boolean algebra. The notion of the generalized economic measurements of the economic…
We provide an axiomatic foundation for the representation of num\'{e}raire-invariant preferences of economic agents acting in a financial market. In a static environment, the simple axioms turn out to be equivalent to the following choice…
This paper proposes a theory of pricing premised upon the assumptions that customers dislike unfair prices---those marked up steeply over cost---and that firms take these concerns into account when setting prices. Since they do not observe…
Behavior of systems that are functions of anticipated behavior of other systems, whose own behavior is also anticipatory but homeostatic and determined by hierarchical ordering, which changes over time, of sets of possible environments that…
Affordance theory proposes that the use of an object is intrinsically determined by its physical shape. However, when translated to digital objects, affordance theory loses explanatory power, as the same physical affordances, for example,…
A mathematical model of Subject behaviour choice is proposed. The background of the model is the concept of two preference relations determining Subject behaviour. These are an "internal" or subjective preference relation and an "external"…
In this paper, we consider the revealed preferences problem from a learning perspective. Every day, a price vector and a budget is drawn from an unknown distribution, and a rational agent buys his most preferred bundle according to some…
Various structured argumentation frameworks utilize preferences as part of their standard inference procedure to enable reasoning with preferences. In this paper, we consider an inverse of the standard reasoning problem, seeking to identify…
Preferences of individuals are distributions of elements generated by generalized functions. Models of economic decision-making derived from such distributions are consistent with results of physiological experiments, and explain any…
Matching, capturing allocation of items to unit-demand buyers, or tasks to workers, or pairs of collaborators, is a central problem in economics. Indeed, the growing prevalence of matching-based markets, many of which online in nature, has…
This paper shows how we can build a model for transactions when goods are given away in the expectation of a later settlement. In settings where people keep track of their social accounts we are able to redefine concepts like account…
Optimal shelflisting invites profit maximization to become sensitive to the ways in which purchasing decisions are order-dependent. We study the computational complexity of the corresponding product arrangement problem when consumers are…
In economics, there are many ways to describe the interaction between a "seller" and a "buyer". The most common one, with which we interact almost every day, is selling for a fixed price. This option is perfect for selling a mass product,…