Consistency of a binary relation requires any preference cycle to involve indifference only. As shown by Suzumura (1976b), consistency is necessary and sufficient for the existence of an ordering extension of a relation. Because of this important role of consistency, it is of interest to examine the rationalizability of choice functions by means of consistent relations. We describe the logical relationships between the different notions of rationalizability obtained if reflexivity or completeness are added to consistency, both for greatest-element rationalizability and for maximal-element rationalizability. All but one notion of consistent rationalizability are characterized for general domains, and all of them are characterized for domains that contain all two-element subsets of the universal set.
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Paper provided by Centre interuniversitaire de recherche en économie quantitative, CIREQ in its series Cahiers de recherche with number
12-2002.
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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Paper
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.
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Cited by: (explanations, 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.)
Asheim, Geir B. & Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2006.
"Infinite-horizon choice functions,"
Memorandum
17/2006, Oslo University, Department of Economics.
[Downloadable!]
Other versions:
Asheim, Geir B. & Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2008.
"Infinite-horizon choice functions,"
PIE/CIS Discussion Paper
379, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
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BOSSERT, Walter & SPRUMONT, Yves & SUZUMURA, Kotaro, 2002.
"Maximal-Element Rationalizability,"
Cahiers de recherche
2002-16, Universite de Montreal, Departement de sciences economiques.
[Downloadable!]
Other versions:
Bossert, Walter & Sprumont, Yves & Suzumura, Kotaro, 2002.
"Maximal-Element Rationalizability,"
Discussion Paper
124, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
[Downloadable!]