Rational choice and revealed preference without binariness
This paper attempts to provide a unified account of the rationalization of possibly non-binary choice-functions by "Extended Preference Relations" (relations between sets and elements). The analysis focuses on transitive EPRs for which three choice-functional characterizations are given, two of them based on novel axioms. Transitive EPRs are shown to be rationalizable by sets of orderings that are "closed under compromise"; this novel requirement is argued to be the key to establish a canonical relationship between sets of orderings and choice-functions. The traditional assumption of "binariness" on preference relations or choice functions is shown to be analytically unhelpful and normatively unfounded; non-binariness may arise from "unresolvedness of preference", a previously unrecognized aspect of preference incompleteness.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 14 (1997)
Issue (Month): 3 ()
|Note:||Received: 28 August 1995/Accepted: 14 February 1996|
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/355|
When requesting a correction, please mention this item's handle: RePEc:spr:sochwe:v:14:y:1997:i:3:p:403-425. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.