The New Palgrave Dictionary of Economics

Living Edition
| Editors: Matias Vernengo, Esteban Perez Caldentey, Barkley J. Rosser Jr

Acyclicity

Living reference work entry
DOI: https://doi.org/10.1057/978-1-349-95121-5_193-1
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Abstract

Acyclicity is a consistency property of preferences and other binary relations. It requires that the asymmetric part P of the relation (e.g. the subrelation of strict preference) contain no cycles; that is, for no sequence of alternatives x 1, x 2, …, x n is it true that x 1 Px 2, x 2 Px 3,…,x n−1 Px n , and x n Px 1. The study of cyclic preferences dates at least to Condorcet’s (1785) treatment of the paradox of voting, in which transitive individual voters generate cyclic majority preferences.

Keywords

Acyclicity Subrelation Asymmetric Part Desirable Consistency Properties Strict Preference 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Authors and Affiliations

  1. 1.