A characterization of ‘min’ as a procedure for exploiting valued preference relations and related results

This paper is concerned with procedures which transform valued preference relations on a set of alternatives into crisp relations. We present a simple characterization of a procedure that ranks alternatives in decreasing order of their minimal performance. This is done by means of three axioms that are shown to be independent. Among other results, we characterize in a very similar manner a procedure called ‘leximin’ and investigate two families of procedures whose intersection is the ‘min’ procedure.