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Let X be the set of all non-negative consumption bundles, and assume for simplicity there are only two comodities:

Consider a lexicographic preference relation on X defined as follows: (x1; x2) is at least as good as (y1; y2) if and only if [x1 > y1] or [x1 = y1 and x2 >= y2]:

(a) Is the lexicographic preference relation complete? reflexive? transitive? continuous? (weakly/strongly) monotonic? (strictly) convex?

(b) Explain, why it is impossible to find a utility representation for this pereference relation.

[此贴子已经被作者于2005-9-15 5:18:08编辑过]

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