Min, max, and sum

Uzi Segal, Joel Sobel

Research output: Contribution to journalArticlepeer-review

Abstract

This paper provides characterization theorems for preferences that can be represented by U(x1,...,xn) = min {xk}, U(x1,...,xn) = max{xk}, U(x1,...,xn) = ∑ u(xk), or combinations of these functionals. The main assumption is partial separability, where changing a common component of two vectors does not reverse strict preferences, but may turn strict preferences into indifference. We discuss applications of our results to social choice. Journal of Economic Literature Classification Numbers: C0, D1, D6.

Original languageEnglish
Pages (from-to)126-150
Number of pages25
JournalJournal of Economic Theory
Volume106
Issue number1
DOIs
StatePublished - 1 Sep 2002
Externally publishedYes

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