A refinement of prudent choices
AbstractWe characterize choice correspondences that can be rationalized by a procedure that is a refinement of the prudent choices exposed inÂ (Houy, 2010). Our characterization is made by means of the usual expansion axiom [gamma] and a weakening of the usual contraction axiom [alpha]. We also make a link with traditional rationality.
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Bibliographic InfoArticle provided by Elsevier in its journal Mathematical Social Sciences.
Volume (Year): 61 (2011)
Issue (Month): 3 (May)
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Web page: http://www.elsevier.com/locate/inca/505565
Prudent choices Rational choices Multi-criteria decision making;
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"Efficiency First or Equity First?: Two Principles and Rationality of Social Choice,"
1998-01, Graduate School of Economics, Hitotsubashi University.
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- Paola Manzini & Marco Mariotti, 2007. "Sequentially Rationalizable Choice," American Economic Review, American Economic Association, vol. 97(5), pages 1824-1839, December.
- Nicolas Houy, 2010. "A characterization of prudent choices," Social Choice and Welfare, Springer, vol. 34(2), pages 181-192, February.
- Houy Nicolas, 2007. "Rationality and Order-Dependent Sequential Rationality," Theory and Decision, Springer, vol. 62(2), pages 119-134, March.
- Houy, Nicolas & Tadenuma, Koichi, 2007. "Lexicographic Compositions of Two Criteria for Decision Making," Discussion Papers 2007-08, Graduate School of Economics, Hitotsubashi University.
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