Economic Theory of Fuzzy Equilibria: An Axiomatic Analysis

Fuzzy preference behaviour involves individuals whose preferences are not necessarily clear or coherent. In contrast to Boolean agents, fuzzy agents cannot decide anything with their preferences alone. Defining a new standard of behaviour to include many types of coherences and preferences is insufficient: a microeconomic improvement of the description of individual choice behaviour does not give any information on the goal which is actually the economic equilibrium. Studying the consistency of individual decisions leads to the concept of equilibrium. This work tries to solve the following problems: can we define a system of preferences that allows the introduction of many behaviours, and under what conditions are economic equilibria consistent with such behaviours? The author defends fuzzy preference behaviour and shows that it corresponds to a new standard of behaviour. The author believes that introducing fuzzy preference behaviours, far from weakening the axioms and generalizing limit conditions, allows general equilibrium analysis to become more realistic without losing exactness.