Related papers: Preferences Relations and Consumer Theory
This paper explores a new class of incomplete preferences -- termed ``connected preferences'' -- in which maximal domains of comparability are topologically connected. We provide necessary and sufficient conditions for continuous…
Fashion preference is a fuzzy concept that depends on customer taste, prevailing norms in fashion product/style, henceforth used interchangeably, and a customer's perception of utility or fashionability, yet fashion e-retail relies on…
In this paper the introduction of notion of reference vector paves the way for a combination of classical and social approaches in the framework of referential preferences given by matrix groups. It is shown that individual demand issue…
This paper studies a search problem where a consumer is initially aware of only a few products. At every point in time, the consumer then decides between searching among alternatives he is already aware of and discovering more products. I…
This textbook is an introduction to economic networks, intended for students and researchers in the fields of economics and applied mathematics. The textbook emphasizes quantitative modeling, with the main underlying tools being graph…
The handling of user preferences is becoming an increasingly important issue in present-day information systems. Among others, preferences are used for information filtering and extraction to reduce the volume of data presented to the user.…
We implement nonparametric revealed-preference tests of subjective expected utility theory and its generalizations. We find that a majority of subjects' choices are consistent with the maximization of some utility function. They respond to…
Preferences, fundamental in all forms of strategic behavior and collective decision-making, in their raw form, are an abstract ordering on a set of alternatives. Agents, we assume, revise their preferences as they gain more information…
The sum-utility maximization problem is known to be important in the energy systems literature. The conventional assumption to address this problem is that the utility is concave. But for some key applications, such an assumption is not…
Literature involving preferences of artificial agents or human beings often assume their preferences can be represented using a complete transitive binary relation. Much has been written however on different models of preferences. We review…
Standard economic theory uses mathematics as its main means of understanding, and this brings clarity of reasoning and logical power. But there is a drawback: algebraic mathematics restricts economic modeling to what can be expressed only…
We develop SHOPPER, a sequential probabilistic model of shopping data. SHOPPER uses interpretable components to model the forces that drive how a customer chooses products; in particular, we designed SHOPPER to capture how items interact…
In this paper we provide an exhaustive survey of the current state of the mathematics of filtration enlargement and an interpretation of the key results of the literature from the viewpoint of mathematical finance. The emphasis is on…
We review the literature on models that try to explain human behavior in social interactions described by normal-form games with monetary payoffs. We start by covering social and moral preferences. We then focus on the growing body of…
The notion of preference is becoming more and more ubiquitous in present-day information systems. Preferences are primarily used to filter and personalize the information reaching the users of such systems. In database systems, preferences…
An axiomatic approach to macroeconomics based on the mathematical structure of thermodynamics is presented. It deduces relations between aggregate properties of an economy, concerning quantities and flows of goods and money, prices and the…
The consumers' willingness to pay plays an important role in economic theory and in setting policy. For a market, this function can often be estimated from observed behavior -- preferences are revealed. However, economists would like to…
The task of a music recommender system is to predict what music item a particular user would like to listen to next. This position paper discusses the main challenges of the music preference prediction task: the lack of information on the…
Evolutionary game theory assumes that individuals maximize their benefits when choosing strategies. However, an alternative perspective proposes that individuals seek to maximize the benefits of others. To explore the relationship between…
We present a methodology for representing probabilistic relationships in a general-equilibrium economic model. Specifically, we define a precise mapping from a Bayesian network with binary nodes to a market price system where consumers and…