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Path independent choice and the ranking of opportunity sets

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  • Matthew Ryan

Abstract

The indirect utility principle provides an instrumentalist basis for ranking opportunity sets, given an underlying preference ranking on alternatives. Opportunity set A is weakly preferred to B if A includes at least one preference-maximising element from $$A\cup B$$ . We introduce the Plott consistency principle as a natural extension of this logic to decision-makers who choose amongst alternatives according to a path independent choice function. Such choice functions need not be rationalisable by a preference order. Plott consistency requires that A is an acceptable choice from $$\left\{ A, B\right\} $$ if A includes at least one element from the set of acceptable choices from $$A\cup B$$ . We explore necessary and sufficient conditions (imposed on a choice function defined on collections of opportunity sets) for Plott consistency. Copyright Springer-Verlag Berlin Heidelberg 2014

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  • Matthew Ryan, 2014. "Path independent choice and the ranking of opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 42(1), pages 193-213, January.
    • Handle: RePEc:spr:sochwe:v:42:y:2014:i:1:p:193-213
    DOI: 10.1007/s00355-012-0719-6
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    Cited by:

    1. Matthew Ryan, 2016. "Essentiality and Convexity in the Ranking of Opportunity Sets," Working Papers 2016-01, Auckland University of Technology, Department of Economics.
    2. V. Danilov & G. Koshevoy & E. Savaglio, 2015. "Hyper-relations, choice functions, and orderings of opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(1), pages 51-69, June.
    3. Dan Qin, 2015. "On justifiable choice functions over opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(2), pages 269-285, September.
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    5. Matthew Ryan, 2016. "Essentiality and convexity in the ranking of opportunity sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 47(4), pages 853-877, December.
    6. Dan Qin & Matthew Ryan, 2016. "Rationalizability of Plott consistent choice functions: a corrigendum," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 47(3), pages 761-762, October.

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