Diversity in opportunity sets: perspective from preferences satisficing

Abstract This paper introduces a ranking over opportunity sets based on preferences satisficing: a set satisfices a preference if and only if there exists an element in the set that is considered good enough to meet the preference, and sets are ranked by the number of satisficed preferences. I compare this framework with existing models of ranking over sets and show that, when preferences are not exogenously given, it is characterized by two axioms identical to those in Kreps (1979), who analyzed rankings over sets from the perspective of preferences maximization. This result indicates that we cannot distinguish whether the ranking over sets is generated according to preferences maximization or preferences satisficing.