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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.
Original language | English |
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Pages (from-to) | 210-216 |
Number of pages | 7 |
Journal | Mathematical Social Sciences |
Volume | 52 |
Issue number | 2 |
DOIs | |
State | Published - 1 Sep 2006 |
ID: 36884343