We examine the maximal-element rationalizability of choice functions with arbitrary domains. While rationality formulated in terms of the choice of greatest elements according to a rationalizing relation has been analyzed relatively thoroughly in the earlier literature, this is not the case for maximal-element rationalizability, except when it coincides with greatest-element rationalizability because of properties imposed on the rationalizing relation. We develop necessary and sufficient conditions for maximal-element rationalizability by itself, and for maximal-element rationalizability in conjunction with additional properties of a rationalizing relation such as reflexivity, completeness, P-acyclicity, quasitransitivity, consistency and transitivity.
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Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number
124.
Length: 19 p. Date of creation: Nov 2002 Date of revision: Handle: RePEc:hit:piedp1:124
Note: Financial support through grants from the Social Sciences and Humanities Research Council of Canada, the Fonds pour la Formation de Chercheurs et l'Aide à la Recherche of Québec, and a Grant-in-Aid for Scientific Research for Priority Areas Number 603 from the Ministry of Education, Science and Culture of Japan is gratefully acknowledged. Contact details of provider: Web page: http://cis.ier.hit-u.ac.jp/ More information through EDIRC
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Find related papers by JEL classification: D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Bossert, W. & Sprumont, Y. & Suzumura, K., 2002.
"Consistent Rationalizability,"
Cahiers de recherche
12-2002, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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Other versions:
Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2002.
"Consistent Rationalizability,"
Discussion Paper
82, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
[Downloadable!]
BOSSERT, Walter & SPRUMONT, Yves & SUZUMURA, Kotaro, 2002.
"Consistent Rationalizability,"
Cahiers de recherche
2002-12, Universite de Montreal, Departement de sciences economiques.
[Downloadable!]
Walter Bossert & Yves Sprumont & Kotaro Suzumura, 2005.
"Consistent Rationalizability,"
Economica,
London School of Economics and Political Science, vol. 72(286), pages 185-200, 05.
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