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Maximal Elements Under Reference-Dependent Preferences with Applications to Behavioral Traps and Games

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Abstract

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.

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Acknowledgements

F. Flores-Bazán acknowledges partial support by FONDECYT 110-0667 and BASAL Projects, CMM, Universidad de Chile and Centro de Investigacion en Ingenieria matematica (CI2MA).

This paper was partially written during the stay of the second author at the University of Concepcion under a research grant of CONICYT through a BASAL Project.

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Authors and Affiliations

  1. CI2MA, Departamento de Ingeniería Matemática, University of Concepcion, Concepcion, Chile

    Fabián Flores-Bazán

  2. LANG, University of Avignon, Avignon, France

    Dinh The Luc

  3. GREQAM, University of Aix-Marseille, Marseille, France

    Antoine Soubeyran

Authors
  1. Fabián Flores-Bazán
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  2. Dinh The Luc
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  3. Antoine Soubeyran
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Corresponding author

Correspondence to Fabián Flores-Bazán.

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Flores-Bazán, F., Luc, D.T. & Soubeyran, A. Maximal Elements Under Reference-Dependent Preferences with Applications to Behavioral Traps and Games. J Optim Theory Appl 155, 883–901 (2012). https://doi.org/10.1007/s10957-012-0100-z

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  • DOI: https://doi.org/10.1007/s10957-012-0100-z

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