AbstractWe 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, quasi-transitivity, consistency and transitivity.
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Bibliographic InfoPaper provided by Centre interuniversitaire de recherche en économie quantitative, CIREQ in its series Cahiers de recherche with number 16-2002.
Length: 19 pages
Date of creation: 2002
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choice functions; maximal-element rationalizability;
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- Amartya Sen, 1996.
"Maximization and the Act of Choice,"
Harvard Institute of Economic Research Working Papers
1766, Harvard - Institute of Economic Research.
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