Choice, internal consistency, and rationality
AbstractThe classical theory of rational choice is built on several important internal consistency conditions. In recent years, the reasonableness of those internal consistency conditions has been questioned and criticized, and several responses to accommodate such criticisms have been proposed in the literature. This paper develops a general framework to accommodate the issues raised by the criticisms of classical rational choice theory, and examines the broad impact of these criticisms from both normative and positive points of view.
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Bibliographic InfoPaper provided by Sam Houston State University, Department of Economics and International Business in its series Working Papers with number 1011.
Date of creation: Dec 2010
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