How vague can one be? Rational preferences without completeness or transitivity

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How vague can one be? Rational preferences without completeness or transitivity

Author Info

Paola Manzini (Queen Mary, University of London & IZA)
Marco Mariotti (Queen Mary, University of London)

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Abstract

What can it mean for preferences to be rational when transitivity or completenss are not assumed? In this paper we provide a framework and a set of conditions to deal with this question. We provide representation results in terms of a pair of functions, a utility function and a vagueness function.

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Paper provided by EconWPA in its series Game Theory and Information with number 0312006.

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Date of creation: 12 Dec 2003
Date of revision: 16 Jul 2004
Handle: RePEc:wpa:wuwpga:0312006

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Find related papers by JEL classification:
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D8 - Microeconomics - - Information, Knowledge, and Uncertainty

This paper has been announced in the following NEP Reports:

NEP-ALL-2003-12-14 (All new papers)
NEP-CBE-2003-12-14 (Cognitive & Behavioural Economics)

References listed on IDEAS
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.:

Masatlioglu, Yusufcan & Ok, Efe A., 2005. "Rational choice with status quo bias," Journal of Economic Theory, Elsevier, vol. 121(1), pages 1-29, March. [Downloadable!] (restricted)
Mandler, Michael, 2005. "Incomplete preferences and rational intransitivity of choice," Games and Economic Behavior, Elsevier, vol. 50(2), pages 255-277, February. [Downloadable!] (restricted)
Juan Dubra & Fabio Maccheroni & Efe A. Ok, 2004. "Expected Utility Without the Completeness Axiom," Yale School of Management Working Papers ysm404, Yale School of Management. [Downloadable!]
Ok, Efe A., 2002. "Utility Representation of an Incomplete Preference Relation," Journal of Economic Theory, Elsevier, vol. 104(2), pages 429-449, June. [Downloadable!] (restricted)
P. Mongin, 1998. "Does optimization imply rationality ?," THEMA Working Papers 98-17, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
Other versions:
- Mongin, P., 1998. "Does Optimization Imply Rationality?," Papers 9817, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
Bridges, Douglas S., 1983. "Numerical representation of intransitive preferences on a countable set," Journal of Economic Theory, Elsevier, vol. 30(1), pages 213-217, June. [Downloadable!] (restricted)

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