Set and revealed preference axioms for multi-valued choice (Q2021541)

The paper considers extensions of the independence of irrelevant alternatives (IIA) and the weak axiom of revealed preferences (WARP) from choice functions to choice correspondences. The extensions of IIA considered are called the weak IIA, WIIA, and the restricted IIA, RIIA. The extension of WARP to choice correspondences is obvious and called WARP again. The authors introduce the model and conditions on choice correspondences they consider and study the relations between those. They prove, amongst other relations, that WARP is equivalent to RIIA, that a choice correspondence satisfies IIA if and only if it satisfies WARP and a preference axiom PA. Then they introduce the concept of strong sets and study its relationships with IIA.