| Article ID: | iaor20128224 |
| Volume: | 155 |
| Issue: | 3 |
| Start Page Number: | 883 |
| End Page Number: | 901 |
| Publication Date: | Dec 2012 |
| Journal: | Journal of Optimization Theory and Applications |
| Authors: | Flores-Bazn Fabin, Luc Dinh, Soubeyran Antoine |
| Keywords: | game theory |
We study reference‐dependent preference relations defined by a real‐valued bivariate function and prove an existence criterion for maximal elements. Then we formulate a generalized version of the well‐known Brondsted maximum principle and apply it to behavioral traps and Nash equilibrium in games with preference relations that are not necessarily partial orders.