Recovering Preferences From Finite Data

Chambers, Christopher P.; Echenique, Federico; Lambert, Nicolas S.

doi:10.3982/ecta17845

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On the Topological Structure Of The Set Of Oioi Preferences1

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2021

2024

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Cited by 7 publications

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“…An important consequence of the following is that the set of OIOI preferences forms a compact set. Chambers et al (2019) establishes that compactness of a set of preferences is a sufficient condition for "recovering a preference with finite data.…”

Section: On the Topological Structure Of The Set Of Oioi Preferencesmentioning

confidence: 99%

Spherical Preferences

Chambers,

Echenique

2019

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We introduce and study the property of orthogonal independence, a restricted additivity axiom applying when alternatives are orthogonal. The axiom requires that the preference for one marginal change over another should be maintained after each marginal change has been shifted in a direction that is orthogonal to both.We show that continuous preferences satisfy orthogonal independence if and only if they are spherical: their indifference curves are spheres with the same center, with preference being "monotone" either away or towards the center. Spherical preferences include linear preferences as a special (limiting) case. We discuss different applications to economic and political environments. Our result delivers Euclidean preferences in models of spatial voting, quadratic welfare aggregation in social choice, and expected utility in models of choice under uncertainty.

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Section: On the Topological Structure Of The Set Of Oioi Preferencesmentioning

confidence: 99%