Loading...
Please wait, while we are loading the content...
Similar Documents
Rational choice and revealed preference without binariness
| Content Provider | Semantic Scholar |
|---|---|
| Author | Nehring, Klaus |
| Copyright Year | 1997 |
| Abstract | Abstract. This paper attempts to provide a unified account of the rationalization of possibly non-binary choice-functions by “Extended Preference Relations” (relations between sets and elements). The analysis focuses on transitive EPRs for which three choice-functional characterizations are given, two of them based on novel axioms. Transitive EPRs are shown to be rationalizable by sets of orderings that are “closed under compromise”; this novel requirement is argued to be the key to establish a canonical relationship between sets of orderings and choice-functions.The traditional assumption of “binariness” on preference relations or choice functions is shown to be analytically unhelpful and normatively unfounded; non-binariness may arise from “unresolvedness of preference”, a previously unrecognized aspect of preference incompleteness. |
| Starting Page | 403 |
| Ending Page | 425 |
| Page Count | 23 |
| File Format | PDF HTM / HTML |
| DOI | 10.1007/s003550050075 |
| Volume Number | 14 |
| Alternate Webpage(s) | http://faculty.econ.ucdavis.edu/faculty/nehring/teaching/econ203/readings/nehring-rational%20choice%20and%20revealed%20preference%20without%20binariness-scw%201997.pdf |
| Alternate Webpage(s) | https://doi.org/10.1007/s003550050075 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
