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A refinement of prudent choices

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  • Nicolas Houy

    (Department of Economics, Ecole Polytechnique - CNRS : UMR7176 - Polytechnique - X)

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    Abstract

    We charaterize the choice correspondences that can be rationalized by a procedure that is a refinement of the prudent choices exposed in [Houy, 2008]. Our characterization is made by means of the usual expansion axiom and by a weakening of the usual contraction axiom α.

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    File URL: http://hal.archives-ouvertes.fr/docs/00/36/05/23/PDF/cahier_de_recherche_2008-35.pdf
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    Bibliographic Info

    Paper provided by HAL in its series Working Papers with number hal-00360523.

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    Date of creation: Apr 2008
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    Handle: RePEc:hal:wpaper:hal-00360523

    Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00360523/en/
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    Related research

    Keywords: Prudent choices; multi-criteria decision making.;

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    1. Koichi Tadenuma, 2005. "Egalitarian-equivalence and the Pareto principle for social preferences," Social Choice and Welfare, Springer, vol. 24(3), pages 455-473, 06.
    2. Sen, Amartya, 1993. "Internal Consistency of Choice," Econometrica, Econometric Society, vol. 61(3), pages 495-521, May.
    3. Sen, Amartya K, 1977. "Social Choice Theory: A Re-examination," Econometrica, Econometric Society, vol. 45(1), pages 53-89, January.
    4. Tadenuma, Koichi, 1998. "Efficiency First or Equity First?: Two Principles and Rationality of Social Choice," Discussion Papers 1998-01, Graduate School of Economics, Hitotsubashi University.
    5. Paola Manzini & Marco Mariotti, 2005. "Shortlisting," Public Economics 0503006, EconWPA, revised 14 Jul 2005.
    6. Houy Nicolas, 2007. "Rationality and Order-Dependent Sequential Rationality," Theory and Decision, Springer, vol. 62(2), pages 119-134, March.
    7. Houy, Nicolas & Tadenuma, Koichi, 2007. "Lexicographic Compositions of Two Criteria for Decision Making," Discussion Papers 2007-08, Graduate School of Economics, Hitotsubashi University.
    8. Paola Manzini & Marco Mariotti, 2007. "Sequentially Rationalizable Choice," American Economic Review, American Economic Association, vol. 97(5), pages 1824-1839, December.
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