IDEAS home Printed from https://ideas.repec.org/a/spr/joecth/v73y2022i4d10.1007_s00199-021-01345-w.html
   My bibliography  Save this article

Minimal rationalizations

Author

Listed:
  • Igor Kopylov

    (University of California, Irvine)

Abstract

I refine the multi-utility model and identify the minimal number W of total orders that is sufficient to rationalize a path independent choice function. This identification invokes the well-known pigeonhole principle: any dataset of size $$W+1$$ W + 1 that is rationalized by W rankings must contain at least two distinct observations where the same ranking is maximized. In general, the index W can be huge even for reasonable choice functions, such as top-ten rules. If W is constrained, then minimal rationalizations can be found in polynomial time via an explicit focal algorithm. The axiom of Expansion (Sen’s $$\gamma $$ γ ) describes a special case where the index W must equal the capacity—the largest number of elements that may be selected together in a menu.

Suggested Citation

  • Igor Kopylov, 2022. "Minimal rationalizations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 73(4), pages 859-879, June.
  • Handle: RePEc:spr:joecth:v:73:y:2022:i:4:d:10.1007_s00199-021-01345-w
    DOI: 10.1007/s00199-021-01345-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s00199-021-01345-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s00199-021-01345-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    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. Demuynck, Thomas, 2011. "The computational complexity of rationalizing boundedly rational choice behavior," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 425-433.
    3. Amartya Sen, 1969. "Quasi-Transitivity, Rational Choice and Collective Decisions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(3), pages 381-393.
    4. John William Hatfield & Paul R. Milgrom, 2005. "Matching with Contracts," American Economic Review, American Economic Association, vol. 95(4), pages 913-935, September.
    5. Plott, Charles R, 1973. "Path Independence, Rationality, and Social Choice," Econometrica, Econometric Society, vol. 41(6), pages 1075-1091, November.
    6. Liang, Annie, 2019. "Inference of preference heterogeneity from choice data," Journal of Economic Theory, Elsevier, vol. 179(C), pages 275-311.
    7. Kfir Eliaz & Michael Richter & Ariel Rubinstein, 2011. "Choosing the two finalists," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(2), pages 211-219, February.
    8. Amartya K. Sen, 1971. "Choice Functions and Revealed Preference," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(3), pages 307-317.
    9. Ok, Efe A., 2002. "Utility Representation of an Incomplete Preference Relation," Journal of Economic Theory, Elsevier, vol. 104(2), pages 429-449, June.
    10. Manzini, Paola & Mariotti, Marco, 2018. "Dual random utility maximisation," Journal of Economic Theory, Elsevier, vol. 177(C), pages 162-182.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chambers, Christopher P. & Hayashi, Takashi, 2023. "The structure of representative preference," Journal of Mathematical Economics, Elsevier, vol. 108(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Domenico Cantone & Alfio Giarlotta & Stephen Watson, 2019. "Congruence relations on a choice space," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 52(2), pages 247-294, February.
    2. Domenico Cantone & Alfio Giarlotta & Stephen Watson, 2021. "Choice resolutions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 56(4), pages 713-753, May.
    3. Tyson, Christopher J., 2008. "Cognitive constraints, contraction consistency, and the satisficing criterion," Journal of Economic Theory, Elsevier, vol. 138(1), pages 51-70, January.
    4. T. Hayashi & R. Jain & V. Korpela & M. Lombardi, 2023. "Behavioral strong implementation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(4), pages 1257-1287, November.
    5. Taradas Bandyopadhyay, 2011. "Choice procedures and power structure in social decisions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(4), pages 597-608, October.
    6. Alcantud, José Carlos R. & Cantone, Domenico & Giarlotta, Alfio & Watson, Stephen, 2023. "Rationalization of indecisive choice behavior by pluralist ballots," Journal of Mathematical Economics, Elsevier, vol. 109(C).
    7. Stewart, Rush T., 2020. "Weak pseudo-rationalizability," Mathematical Social Sciences, Elsevier, vol. 104(C), pages 23-28.
    8. Bossert, Walter & Cato, Susumu & Kamaga, Kohei, 2024. "Smallest quasi-transitive extensions," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    9. Jos'e Carlos R. Alcantud & Domenico Cantone & Alfio Giarlotta & Stephen Watson, 2022. "Rationalization of indecisive choice behavior by majoritarian ballots," Papers 2210.16885, arXiv.org.
    10. Alva, Samson, 2018. "WARP and combinatorial choice," Journal of Economic Theory, Elsevier, vol. 173(C), pages 320-333.
    11. Daniel Lehmann, 2019. "Revealed Preferences for Matching with Contracts," Papers 1908.08823, arXiv.org, revised Mar 2020.
    12. Walter Bossert & Yves Sprumont, 2009. "Non‐Deteriorating Choice," Economica, London School of Economics and Political Science, vol. 76(302), pages 337-363, April.
    13. García-Sanz, María D. & Alcantud, José Carlos R., 2015. "Sequential rationalization of multivalued choice," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 29-33.
    14. Eliaz, Kfir & Ok, Efe A., 2006. "Indifference or indecisiveness? Choice-theoretic foundations of incomplete preferences," Games and Economic Behavior, Elsevier, vol. 56(1), pages 61-86, July.
    15. Santosh C. Panda, 2018. "Rational Choice with Intransitive Preferences," Studies in Microeconomics, , vol. 6(1-2), pages 66-83, June.
    16. Jose Apesteguia & Miguel Ballester, 2009. "A theory of reference-dependent behavior," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(3), pages 427-455, September.
    17. Chambers, Christopher P. & Miller, Alan D. & Yenmez, M. Bumin, 2020. "Closure and preferences," Journal of Mathematical Economics, Elsevier, vol. 88(C), pages 161-166.
    18. Danilov, Vladimir I. & Karzanov, Alexander V., 2023. "Stable and meta-stable contract networks," Journal of Mathematical Economics, Elsevier, vol. 108(C).
    19. Clark, Stephen A., 1995. "Indecisive choice theory," Mathematical Social Sciences, Elsevier, vol. 30(2), pages 155-170, October.

    More about this item

    Keywords

    Multi-utility model; Path independence; Focal algorithm; Heterogeneity; Pigeonhole principle;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:73:y:2022:i:4:d:10.1007_s00199-021-01345-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.