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Rationalizability of Menu Preferences

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  • Christopher J. Tyson

    (Queen Mary University of London)

Abstract

The class of preferences over opportunity sets ("menus") rationalizable by underlying preferences over the alternatives is characterized for the general case in which the dataset is unrestricted. In particular, both the universal set of alternatives and the domain of menus over which preferences are asserted by the decision maker are arbitrary. The key "Cover Dominance" axiom states that any menu strictly preferred to a collection of menus must be strictly preferred to any menu covered by the collection. The method of characterization relies upon transitivity of menu preferences, but completeness can be relaxed.

Suggested Citation

  • Christopher J. Tyson, 2017. "Rationalizability of Menu Preferences," Working Papers 819, Queen Mary University of London, School of Economics and Finance.
    • Handle: RePEc:qmw:qmwecw:819
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    1. repec:hal:psewpa:halshs-01998001 is not listed on IDEAS
    2. Elias Bouacida, 2021. "Identifying Choice Correspondences," Working Papers 327800275, Lancaster University Management School, Economics Department.
    3. Elias Bouacida, 2021. "Identifying Choice Correspondences," Working Papers halshs-01998001, HAL.

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    More about this item

    Keywords

    General domains; Opportunity sets; Revealed preference; Transitivity;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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