Abstract
Lexicographic orderings are orderings in which certain elements of the space being ordered have been selected for special treatment. I begin with an example. Suppose an agent has an ordering over commodities a and b. Although he or she likes both a and b, any bundle which has more of a is preferred to any bundle which has less of a. Of course among bundles which have the same amount of a, bundles with more b are preferred to those with less. Thus, there are no trade-offs between a and b and each indifference set is a single point. The name ‘lexicographic’ comes from the way words are ordered in a dictionary, alphabetically by the first letter and then the second and so on.
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© 1990 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Blackorby, C. (1990). Lexicographic Orderings. In: Eatwell, J., Milgate, M., Newman, P. (eds) Utility and Probability. The New Palgrave. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20568-4_18
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DOI: https://doi.org/10.1007/978-1-349-20568-4_18
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