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Consistent Rationalizability

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  • Walter Bossert
  • Yves Sprumont
  • Kotaro Suzumura

Abstract

Consistency of a binary relation requires any preference cycle to involve indifference only. It has been shown that consistency is necessary and sufficient for the existence of an ordering extension of a binary relation. It is therefore of interest to examine the rationalizability of choice functions by means of consistent relations. We describe the logical relationships between the different notions of rationalizability obtained if reflexivity or completeness are added to consistency. All but one such notion are characterized for general domains, and all are characterized for domains that contain all two-element subsets of the universal set. Copyright (c) The London School of Economics and Political Science 2005.

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Bibliographic Info

Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 72 (2005)
Issue (Month): 286 (05)
Pages: 185-200

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Handle: RePEc:bla:econom:v:72:y:2005:i:286:p:185-200

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  1. Suzumura, Kataro, 1976. "Remarks on the Theory of Collective Choice," Economica, London School of Economics and Political Science, vol. 43(172), pages 381-90, November.
  2. Walter Bossert & Yves Sprumont & Kotaro Suzumura, 2006. "Rationalizability of choice functions on general domains without full transitivity," Social Choice and Welfare, Springer, vol. 27(3), pages 435-458, December.
  3. Suzumura, Kotaro, 1976. "Rational Choice and Revealed Preference," Review of Economic Studies, Wiley Blackwell, vol. 43(1), pages 149-58, February.
  4. Sen, Amartya K, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Wiley Blackwell, vol. 38(115), pages 307-17, July.
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