# Tag Info

## Hot answers tagged preferences

Accepted

### What is the difference between preferences lacking "completeness" and being indifferent?

As alluded to in the comments the distinction is roughly: Indifference: The decision maker knows she will receive the same utility from the consumption of $x$ or $y$. Incompleteness: The DM does not ...
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### (Preference Relation/Set) Continuous $\succsim$ imply closedness of upper and lower contour sets

Looking more closely at your question, I think things should not be overly complicated. From Mas-Colell et.al. Definition 3.C.1: The preference relation $\succsim$ on X is continuous if it is ...
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### Has the assumption that individuals' tastes do not change over time been rigorously challenged?

Stigler and Becker's argument is methodological, not philosophical. They do not try to convince us that preferences are indeed identical across individuals and invariant across time as a matter of ...
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### Do discontinuous preferences imply no continuous utility function?

The easiest way to prove it is using the 'old' definition of continuity. $\succ$ is continuous iff whenever $x\succ y$, there exists neighborhoods of $x$ and $y$, $B_x, B_y$, such that all $z\in B(x)$...
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### Are Indifference Curve graphs continuous given the preferential definition of continuity?

Given your last comment above it seems that what you are really asking is whether the indifference sets of a continuous preference relation on $\mathbb R^n_+$ are path-connected. The answer is No. Let ...
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### Are Indifference Curve graphs continuous given the preferential definition of continuity?

To follow up on the answer of @VARulle let me give you some conditions for which the indifference curve is path connected. The argument can also be found in the book Mathematical Methods and Models ...
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### Violation of Monotonicity of preferences

In general, it will not represent the same preferences. There seems to be confusion on what "monotonic transformation" means in this context. It does not have much to do with monotonic ...
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### Is Varian's definition of continuity of preference equivalent to standard definitions?

What Varian (Microeconomic Analysis, p 95) says is that: If $x$ is strictly preferred to $y$ and if $z$ is a bundle that is close enough to $x$ then $z$ must be strictly preferred to $y$. This is a ...
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