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Rationality and Order-Dependent Sequential Rationality

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  • HOUY NICOLAS

Abstract

We show that an individual using a choice function is sequentially rational and the decisions he makes are independent of the order of implementation of the rationales if and only if he is rational with the union of the rationales as a base binary relation. When he makes his decisions following a choice correspondence, the sufficiency part of this claim still holds, the necessity part of it does not. Copyright Springer Science+Business Media, LLC 2007

Suggested Citation

  • Houy Nicolas, 2007. "Rationality and Order-Dependent Sequential Rationality," Theory and Decision, Springer, vol. 62(2), pages 119-134, March.
    • Handle: RePEc:kap:theord:v:62:y:2007:i:2:p:119-134
    DOI: 10.1007/s11238-006-9016-0
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    References listed on IDEAS

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    1. Gil Kalai & Ariel Rubinstein & Ran Spiegler, 2002. "Rationalizing Choice Functions By Multiple Rationales," Econometrica, Econometric Society, vol. 70(6), pages 2481-2488, November.
    2. Paola Manzini & Marco Mariotti, 2005. "Shortlisting," Public Economics 0503006, University Library of Munich, Germany, revised 23 Mar 2006.
    3. Moulin, Herve, 1994. "Social choice," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 31, pages 1091-1125, Elsevier.
    4. Tadenuma, Koichi, 2002. "Efficiency First or Equity First? Two Principles and Rationality of Social Choice," Journal of Economic Theory, Elsevier, vol. 104(2), pages 462-472, June.
    5. James M. Buchanan, 1954. "Individual Choice in Voting and the Market," Journal of Political Economy, University of Chicago Press, vol. 62(4), pages 334-334.
    6. Paola Manzini & Marco Mariotti, 2004. "Rationalizing Boundedly Rational Choice," Microeconomics 0407005, University Library of Munich, Germany, revised 21 Dec 2005.
    7. repec:bla:econom:v:43:y:1976:i:172:p:381-90 is not listed on IDEAS
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    Citations

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    Cited by:

    1. Houy, Nicolas & Tadenuma, Koichi, 2009. "Lexicographic compositions of multiple criteria for decision making," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1770-1782, July.
    2. Thomas Demuynck, 2014. "The computational complexity of rationalizing Pareto optimal choice behavior," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 42(3), pages 529-549, March.
    3. Houy, Nicolas, 2011. "A refinement of prudent choices," Mathematical Social Sciences, Elsevier, vol. 61(3), pages 166-169, May.
    4. Matsuki, Jun & Tadenuma, Koichi & 蓼沼, 宏一, 2013. "Choice via Grouping Procedures," Discussion Papers 2013-08, Graduate School of Economics, Hitotsubashi University.
    5. Yusufcan Masatlioglu & Daisuke Nakajima & Erkut Y. Ozbay, 2012. "Revealed Attention," American Economic Review, American Economic Association, vol. 102(5), pages 2183-2205, August.
    6. Alvaro Sandroni & Leo Katz, 2024. "The leveling axiom," Theory and Decision, Springer, vol. 96(1), pages 135-152, February.
    7. Houy Nicolas, 2008. "Choice Functions with States of Mind," Theory and Decision, Springer, vol. 65(1), pages 1-26, August.
    8. Demuynck, Thomas, 2011. "The computational complexity of rationalizing boundedly rational choice behavior," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 425-433.
    9. Nicolas Houy, 2008. "Prudent choices and rationality," Working Papers hal-00360518, HAL.
    10. García-Sanz, María D. & Alcantud, José Carlos R., 2015. "Sequential rationalization of multivalued choice," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 29-33.
    11. Nicolas Houy, 2008. "Progressive knowledge revealed preferences and sequential rationalizability," Working Papers hal-00360546, HAL.
    12. Bleile, Jörg, 2016. "Limited Attention in Case-Based Belief Formation," Center for Mathematical Economics Working Papers 518, Center for Mathematical Economics, Bielefeld University.
    13. Cherepanov, Vadim & Feddersen, Timothy & ,, 2013. "Rationalization," Theoretical Economics, Econometric Society, vol. 8(3), September.

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    More about this item

    Keywords

    order dependent choices; rationality; sequential rationality; D0;
    All these keywords.

    JEL classification:

    • D0 - Microeconomics - - General

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