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When x Becomes x': Sameness and the Internal Consistency of Choice

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  • Marek Hudík

Abstract

The fact that any two choices are necessarily asynchronous raises the question of whether some alternative x at moment t remains the same alternative x at moment t + 1. It is argued that this question cannot be answered without taking into account the decision-maker’s perception of the choice problem. Consequently, an objective description of a choice problem is impossible for each description involves an interpretation. A definition of sameness is provided and an extension of the standard choice model is suggested. The problem of the possibility of different perceptions of the decision-maker and the observer is emphasized

Suggested Citation

  • Marek Hudík, 2013. "When x Becomes x': Sameness and the Internal Consistency of Choice," ICER Working Papers 02-2013, ICER - International Centre for Economic Research.
    • Handle: RePEc:icr:wpicer:02-2013
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    File URL: http://www.bemservizi.unito.it/repec/icr/wp2013/ICERwp02-13.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    sameness; categorization; internal consistency; choice theory; indifference; framing; subjectivism;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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