Locally complete path independent choice functions and their lattices (Q5939662): Difference between revisions

A choice function for the authors is a function from a subset of the power set of a universal set \(V\) to the power set of \(V\) considered as a Boolean algebra under set inclusion. For finite sets \(V\), the domain is taken to be all of the power set, while for infinite \(V\), the domain must satisfy certain closure properties. In this case, the choice function is called locally complete. The choice function \(C\) is called path independent (PI), if for any sets \(A, B\) in the domain of \(C\), \(C(A \cup B) = C(C(A) \cup C(B))\). The authors show how to define a lattice on the range of the choice function and are able to characterize PI choice functions on finite domains as those for which the associated lattice is locally lower distributive. Using the lattice characterization, the authors give a method for constructing all finite PI choice functions. The authors also characterize those lattices for which the choice functions satisfy stricter conditions such as rationalizability and the weak and strong axioms of revealed preference. In the case of infinite domains and locally complete choice functions, the authors provide necessary conditions, but not complete characterizations. Numerous examples are given.