We investigate the results of Kreps (1979), dropping his completeness axiom. As an added generalization, we work on arbitrary lattices, rather than a lattice of sets. We show that one of the properties of Kreps is intimately tied with representation via a closure operator. That is, a preference satisfies Kreps’ axiom (and a few other mild conditions) if and only if there is a closure operator on the lattice, such that preferences over elements of the lattice coincide with dominance of their closures. We tie the work to recent literature by Richter and Rubinstein (2015).
|Number of pages||6|
|Journal||Journal of Mathematical Economics|
|State||Published - May 2020|
Bibliographical noteFunding Information:
This research was undertaken, in part, thanks to funding from the Canada Research Chairs program . We are also grateful to two anonymous referees and the associate editor for helpful comments.
© 2020 Elsevier B.V.
ASJC Scopus subject areas
- Economics and Econometrics
- Applied Mathematics