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Two values are sufficient for choice consistency

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  • Chintala, Vineeth

Abstract

In many situations, people make choices which are optimal under some social and moral rules. So how can an outside observer, with no access to such private rules, make sense of their behavior? One way to understand choices is by assigning different values (or meanings) to the alternatives depending on the context. The number of additional values can then be viewed as a measure of the background information involved while making the choice. In this paper, we show that two values are sufficient to perceive any choice behavior as consistent. This implies that the information gleaned from a menu is never less than the background information involved in making the choice.

Suggested Citation

  • Chintala, Vineeth, 2018. "Two values are sufficient for choice consistency," SocArXiv gf6wq, Center for Open Science.
    • Handle: RePEc:osf:socarx:gf6wq
    DOI: 10.31219/osf.io/gf6wq
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