Menu-dependent preferences and revelation principle |
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Authors: | Rene Saran |
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Institution: | Department of Economics, Maastricht University, P.O. Box 616, 6200 MD Maastricht, The Netherlands |
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Abstract: | We extend the set of preferences to include menu-dependent preferences and characterize the domain in which the revelation principle holds. A weakening of the well-known contraction consistency is shown to define a subset of this domain. However, we show that minimax-regret preference can be outside the domain. |
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Keywords: | C72 D78 |
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