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Context-Dependent Choice with Nonlinear and Nontransitive Preferences

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  • Fishburn, Peter C
  • LaValle, Irving H

Abstract

This paper explores implications for one-stage and two-stage decision processes of a theory of choice tha t accommodates nontransitive preferences. It focuses on probabilistic convexification of finite base sets and on choice from convex sets. The one-stage formulation always has a maximally-preferred element in the convex set. Two-stage processes allow not only a holistic procedure for the entire problem, but also give rise to naive and sophisticated sequential procedures. All three have unambiguous solutions, but they can be radically different under intransitivities. The thre e two-stage solutions coincide when preferences are transitive. Copyright 1988 by The Econometric Society.

Suggested Citation

  • Fishburn, Peter C & LaValle, Irving H, 1988. "Context-Dependent Choice with Nonlinear and Nontransitive Preferences," Econometrica, Econometric Society, vol. 56(5), pages 1221-1239, September.
    • Handle: RePEc:ecm:emetrp:v:56:y:1988:i:5:p:1221-39
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    Cited by:

    1. Walter Bossert & Kotaro Suzumura, 2015. "Expected utility without full transitivity," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(4), pages 707-722, December.
    2. Michele Lombardi, 2008. "Uncovered set choice rules," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 31(2), pages 271-279, August.
    3. Linares, Pedro, 2009. "Are inconsistent decisions better? An experiment with pairwise comparisons," European Journal of Operational Research, Elsevier, vol. 193(2), pages 492-498, March.
    4. Denis Bouyssou & Marc Pirlot, 2008. "On some ordinal models for decision making under uncertainty," Annals of Operations Research, Springer, vol. 163(1), pages 19-48, October.
    5. Pedro Linares & Sara Lumbreras & Alberto Santamaría & Andrea Veiga, 2016. "How relevant is the lack of reciprocity in pairwise comparisons? An experiment with AHP," Annals of Operations Research, Springer, vol. 245(1), pages 227-244, October.
    6. Stefan T. Trautmann & Ferdinand M. Vieider & Peter P. Wakker, 2011. "Preference Reversals for Ambiguity Aversion," Management Science, INFORMS, vol. 57(7), pages 1320-1333, July.
    7. Georg KIRCHSTEIGER & Clemens PUPPE, 1994. "Intransitive Choices Based on Transitive Preferences: The Case of Menu-Dependent Information," Vienna Economics Papers vie9404, University of Vienna, Department of Economics.
    8. Marc Willinger, 1990. "La rénovation des fondements de l'utilité et du risque," Revue Économique, Programme National Persée, vol. 41(1), pages 5-48.
    9. Shlomo Naeh & Uzi Segal, 2008. "The Talmud On Transitivity," Boston College Working Papers in Economics 687, Boston College Department of Economics, revised 04 Sep 2009.
    10. Stoye, Jörg, 2015. "Choice theory when agents can randomize," Journal of Economic Theory, Elsevier, vol. 155(C), pages 131-151.
    11. Alcantud, J. C. R., 2002. "Non-binary choice in a non-deterministic model," Economics Letters, Elsevier, vol. 77(1), pages 117-123, September.
    12. , & ,, 2011. "Transitive regret," Theoretical Economics, Econometric Society, vol. 6(1), January.
    13. Diecidue, Enrico & Somasundaram, Jeeva, 2017. "Regret theory: A new foundation," Journal of Economic Theory, Elsevier, vol. 172(C), pages 88-119.
    14. Mogens Fosgerau & John Rehbeck, 2023. "Nontransitive Preferences and Stochastic Rationalizability: A Behavioral Equivalence," Papers 2304.14631, arXiv.org.
    15. Zhang, Jiao & Hsee, Christopher K. & Xiao, Zhixing, 2006. "The majority rule in individual decision making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 99(1), pages 102-111, January.

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