Lexicographic Preferences over Random Availability Functions
arXiv:2505.12997
Abstract
We provide an axiomatic characterization of lexicographic preferences over the set of all random availability functions using two assumptions. The first assumption is strong monotonicity, which in our framework is equivalent to the strong dominance property in microeconomics. The second assumption is independence of worse alternatives and we show that a weaker version of the same suffices for our purpose.
6 pages. Key words: random availability function, lexicographic preference relation, strongly monotonic, independence of worse alternatives. JEL Classification code: D81