Under two reasonable axioms, a generalized variant of the Edgeworth-Pareto principle in terms of a choice function is substantiated. According to this principle, for any choice function, its value must be a subset of the Pareto set. It is shown that, if at least one of the axioms is ignored, then the Edgeworth-Pareto principle may be violated. As a particular case, the Edgeworth-Pareto principle in terms of preference relations is derived.
Scopus subject areas
- Sociology and Political Science
- Social Sciences(all)
- Statistics, Probability and Uncertainty