AbstractWe examine the maximal-element rationalizability of choice functions with arbitrary do-mains. While rationality formulated in terms of the choice of greatest elements according to a rationalizing relation has been analyzed relatively thoroughly in the earlier litera-ture, 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 rationaliz-ability by itself, and for maximal-element rationalizability in conjunction with additional properties of a rationalizing relation such as re exivity, completeness, P-acyclicity, quasi-transitivity, consistency and transitivity.
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Bibliographic InfoPaper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 2002-16.
Length: 19 ges pages
Date of creation: 2002
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Choice Functions; Maximal-Element Rationalizability.;
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- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
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