Multicriteria efficiency with arbitrary finite sets and cyclic preferences

Multicriteria efficiency with arbitrary finite sets and cyclic preferences

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Article ID: iaor1988288
Country: United States
Volume: 35
Issue: 6
Start Page Number: 567
End Page Number: 574
Publication Date: Dec 1988
Journal: Naval Research Logistics Quarterly
Authors:
Abstract:

It is shown that when X is an arbitrary finite subset of an n-factor product set and preference relations on each factor or criterion are assumed only to be asymmetric, efficient (undominated) points always exist in the set P of probability distributions on X when the preference relations are extended to probability distributions on X when the preference relations are extended to probability distributions on the factors according to SSB utility theory. Thus, arbitrary finite structures and potentially cyclic preferences do not present a problem for the theory of efficiency under the convexification-extension procedure.

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