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On rational choice from lists of sets

Author

Listed:
  • Gleb Koshevoy
  • Ernesto Savaglio

Abstract

We analyze the rationality of a Decision Maker (DM) who chooses from lists of sets of alternatives. A new class of choice functions, representing the DM's choice-behavior, and a new rationality axiom are proposed and studied. We show that a property, that we call No-Regret suggests that alternatives disregarded as of no interest for the DM be ignored, is a rationality criterion that encompasses some compelling postulates of the classical choice model and extends them to the proposed general framework of choice from lists of sets of alternatives.

Suggested Citation

  • Gleb Koshevoy & Ernesto Savaglio, 2023. "On rational choice from lists of sets," Department of Economics University of Siena 896, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:896
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    File URL: http://repec.deps.unisi.it/quaderni/896.pdf
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    Keywords

    Choice from lists of sets; No-regret; Outcast; Heritage; Path-independence.;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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