Strict Versus Weak
The possibility of defining a strict preference relation from the weaker one, and viceversa, suggest in principle an alternative approach of starting with the strict relation as the primitive concept and deriving the weaker one and the indifference relation. However, an indifference relation derived this way will generally not be transitive. According to Kreps "beginning with strict preference makes it easier to discuss noncomparability possibilities".
Read more about this topic: Preference (economics)
Famous quotes containing the words strict and/or weak:
“Yet if strict criticism should till frown on our method, let candor and good humor forgive what is done to the best of our judgment, for the sake of perspicuity in the story and the delight and entertainment of our candid reader.”
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“What greater reassurance can the weak have than that they are like anyone else?”
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