Consistency of a binary relation requires any preference cycle to involve indifference only. As shown by Suzumura (1976b), consistency is necessary and sufficient for the existence of an ordering extension of a relation. Because of this important role of consistency, it is of interest to examine the rationalizability of choice functions by means of consistent relations. We describe the logical relationships between the different notions of rationalizability obtained if reflexivity or completeness are added to consistency, both for greatest-element rationalizability and for maximal-element rationalizability. All but one notion of consistent rationalizability are characterized for general domains, and all of them are characterized for domains that contain all two-element subsets of the universal set.
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Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number
82.
Length: 17 p. Date of creation: Apr 2002 Date of revision: Handle: RePEc:hit:piedp1:82
Note: June 2002, Financial support through grants from the Social Sciences and Humanities Research Council of Canada, the Fonds pour la Formation de Chercheurs et l'Aide à la Recherche of Québec, and a Grant-in-Aid for Scientific Research for Priority Areas (B) Number 603 from the Ministry of Education, Science and Culture of Japan is gratefully acknowledged. Contact details of provider: Web page: http://cis.ier.hit-u.ac.jp/ More information through EDIRC
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Walter Bossert & Yves Sprumont & Kotaro Suzumura, 2005.
"Consistent Rationalizability,"
Economica,
London School of Economics and Political Science, vol. 72(286), pages 185-200, 05.
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Paper
Bossert, W. & Sprumont, Y. & Suzumura, K., 2002.
"Consistent Rationalizability,"
Cahiers de recherche
12-2002, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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BOSSERT, Walter & SPRUMONT, Yves & SUZUMURA, Kotaro, 2002.
"Consistent Rationalizability,"
Cahiers de recherche
2002-12, Universite de Montreal, Departement de sciences economiques.
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Find related papers by JEL classification: D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
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BOSSERT, Walter & SPRUMONT, Yves & SUZUMURA, Kotaro, 2002.
"Maximal-Element Rationalizability,"
Cahiers de recherche
2002-16, Universite de Montreal, Departement de sciences economiques.
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Other versions:
Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2002.
"Maximal-Element Rationalizability,"
Discussion Paper
124, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
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Asheim, Geir B. & Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2006.
"Infinite-horizon choice functions,"
Memorandum
17/2006, Oslo University, Department of Economics.
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Other versions:
Asheim, Geir B. & Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2008.
"Infinite-horizon choice functions,"
PIE/CIS Discussion Paper
379, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
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