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Social Norms and Rationality of Choice

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  • BOSSERT, Walter
  • SUZUMURA, Kotaro

Abstract

Ever since Sen (1993) criticized the notion of internal consistency of choice, there exists a wide spread perception that the standard rationalizability approach to the theory of choice has difficulties coping with the existence of external social norms. This paper introduces a concept of norm-conditional rationalizability and shows that external social norms can be accommodated so as to be compatible with norm-conditional rationalizability by means of suitably modified revealed preference axioms in the theory of rational choice on general domains à la Richter (1966;1971) and Hansson (1968)

Suggested Citation

  • BOSSERT, Walter & SUZUMURA, Kotaro, 2007. "Social Norms and Rationality of Choice," Cahiers de recherche 08-2007, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    • Handle: RePEc:mtl:montec:08-2007
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    References listed on IDEAS

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    1. Amartya Sen, 1997. "Maximization and the Act of Choice," Econometrica, Econometric Society, vol. 65(4), pages 745-780, July.
    2. Kim, Taesung & Richter, Marcel K., 1986. "Nontransitive-nontotal consumer theory," Journal of Economic Theory, Elsevier, vol. 38(2), pages 324-363, April.
    3. Schwartz, Thomas, 1976. "Choice functions, "rationality" conditions, and variations on the weak axiom of revealed preference," Journal of Economic Theory, Elsevier, vol. 13(3), pages 414-427, December.
    4. repec:bla:econom:v:72:y:2005:i:286:p:185-200 is not listed on IDEAS
    5. Sen, Amartya, 1993. "Internal Consistency of Choice," Econometrica, Econometric Society, vol. 61(3), pages 495-521, May.
    6. 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.
    7. Suzumura, Kotaro, 1977. "Houthakker's axiom in the theory of rational choice," Journal of Economic Theory, Elsevier, vol. 14(2), pages 284-290, April.
    8. Kotaro Suzumura, 1976. "Rational Choice and Revealed Preference," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 43(1), pages 149-158.
    9. Baigent, Nick & Gaertner, Wulf, 1996. "Never Choose the Uniquely Largest: A Characterization," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 8(2), pages 239-249, August.
    10. repec:bla:econom:v:43:y:1976:i:172:p:381-90 is not listed on IDEAS
    11. 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.
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    Cited by:

    1. Fabián Flores-Bazán & Dinh The Luc & Antoine Soubeyran, 2012. "Maximal Elements Under Reference-Dependent Preferences with Applications to Behavioral Traps and Games," Journal of Optimization Theory and Applications, Springer, vol. 155(3), pages 883-901, December.
    2. Luc, Dinh The & Soubeyran, Antoine, 2013. "Variable preference relations: Existence of maximal elements," Journal of Mathematical Economics, Elsevier, vol. 49(4), pages 251-262.
    3. Bruno S. Frey & David A. Savage & Benno Torgler, 2011. "Who perished on the Titanic? The importance of social norms," Rationality and Society, , vol. 23(1), pages 35-49, February.

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    More about this item

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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