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Menu-dependent preferences and revelation principle
Authors:Rene Saran
Institution:Department of Economics, Maastricht University, P.O. Box 616, 6200 MD Maastricht, The Netherlands
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.
Keywords:C72  D78
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