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On rational choice from lists of sets

Author

Listed:
  • Koshevoy, Gleb
  • Savaglio, Ernesto

Abstract

We analyze the rationality of a Decision Maker (DM) who chooses from lists of sets of alternatives. We propose and study four general classes of choice mechanism, representing the DM’s choice-behavior, and a new axiom, that we call No-Regret (NR). We show that the NR axiom, suggesting that alternatives disregarded as of no interest for the DM be ignored, is a rationality axiom that encompasses some compelling properties of the classical choice model and extends them to the proposed general framework of choice from lists of sets of alternatives.

Suggested Citation

  • Koshevoy, Gleb & Savaglio, Ernesto, 2023. "On rational choice from lists of sets," Journal of Mathematical Economics, Elsevier, vol. 109(C).
    • Handle: RePEc:eee:mateco:v:109:y:2023:i:c:s0304406823000848
    DOI: 10.1016/j.jmateco.2023.102891
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