Social Norms and Rationality of Choice
AbstractEver since Sen (1993) criticized the notion of internal consistency of choice, there exists a wide spread perception that the standard rationalizability approach to the theory of choice has difficulties coping with the existence of external social norms. This paper introduces a concept of norm-conditional rationalizability and shows that external social norms can be accommodated so as to be compatible with norm-conditional rationalizability by means of suitably modified revealed preference axioms in the theory of rational choice on general domains à la Richter (1966;1971) and Hansson (1968)
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Bibliographic InfoPaper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 2007-07.
Length: 13 pages
Date of creation: 2007
Date of revision:
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Other versions of this item:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-02-16 (All new papers)
- NEP-CDM-2008-02-16 (Collective Decision-Making)
- NEP-HPE-2008-02-16 (History & Philosophy of Economics)
- NEP-SOC-2008-02-16 (Social Norms & Social Capital)
- NEP-UPT-2008-02-16 (Utility Models & Prospect Theory)
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