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Rationality in a general model of choice

Author

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  • Somdeb Lahiri

    (IPMG, PD Petroleum University, P.O. Raisan, Gandhinagar-382007, India.)

Abstract

In this paper we consider choice correspondences which may be empty-valued. We study conditions under which such choice correspondences are rational, transitively rational, partially rational, partially almost transitive rational, partially almost quasi-transitive rational. This provides fresh impetus and understanding of multi-criteria decision making.

Suggested Citation

  • Somdeb Lahiri, 2015. "Rationality in a general model of choice," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 3(5), pages 43-52, October.
    • Handle: RePEc:lrc:lareco:v:3:y:2015:i:5:p:43-52
    as

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    File URL: http://journalofeconomics.org/index.php/site/article/view/111/262
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    References listed on IDEAS

    as
    1. Yuval Salant & Ariel Rubinstein, 2008. "(A, f): Choice with Frames -super-1," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 75(4), pages 1287-1296.
    2. Walter Bossert & Yves Sprumont & Kotaro Suzumura, 2006. "Rationalizability of choice functions on general domains without full transitivity," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 27(3), pages 435-458, December.
    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. B. Douglas Bernheim & Antonio Rangel, 2007. "Toward Choice-Theoretic Foundations for Behavioral Welfare Economics," American Economic Review, American Economic Association, vol. 97(2), pages 464-470, May.
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    More about this item

    Keywords

    Almost quasi-transitive; almost transitive; partially rational; quasi-transitive.;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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