A general extension theorem for binary relations
Article Abstract:
A general extension theorem for binary relations to linear, or strict linear, orders is proven and applied to various samples from welfare economics. The duality structure of binary relations is exploited so as to easily derive a general intension theorem. A special case is the proof that a complete, negatively transitive relation is the union of linear orders embedded within it. Another is that an irreflexive and negatively transitive relation is the union of strict weak orders embedded within it.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Arrow's theorem in public good environments with convex technologies
Article Abstract:
The applicability of Arrow's theorem in public good environments is evaluated using fixed economic preferences and a feasible set of alternatives that provide public good. The theorem has restrictive properties and insufficient requisites when applied in spatial environment conditions which imposes a budget consideration. Procedures that use social choice functions provide optimal requirements that are absent in the theorem's original version that considers social welfare functions.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
The substitution theorem
Article Abstract:
A formulation of the substitution theorem in economics is presented via a model that has a finite number of commodities and labor units. As generally conceived, the substitution theorem states that an economy having many commodities but only one input, such as labor, would not be responsive to demand changes. This means that no substitution of inputs would occur under dynamic conditions.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A general equilibrium model of statistical discrimination. Competitive equilibrium with unawareness in economies with production
- Abstracts: An exploration of the eductive justifications of the rational-expectations hypothesis. Recursive utility and optimal growth with bounded or unbounded returns
- Abstracts: Financial innovations and arbitrage pricing in economies with frictions: revisited. Nonconvex production economies
- Abstracts: Industrialization under perfect foresight: a world economy with a continuum of countries. Sequential indeterminacy in production economies
- Abstracts: Industrialization under perfect foresight: a world economy with a continuum of countries. part 2 Complicated endogenous business cycles under gross substitutability