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On rationalizability of choice functions: A characterization of the median

Author

Listed:
  • Wulf Gaertner

    (Department of Economics, University of Osnabrück, D-49069 Osnabrück, Germany)

  • Yongsheng Xu

    (Department of Economics, University of Nottingham, Nottingham NG7 2RD, UK)

Abstract

In this paper we characterize choice behaviour that picks the median element from a set of feasible alternatives. It is easily seen that this choice behaviour violates most of the standard consistency conditions for set contraction and set expansion. The paper offers a complete characterization in terms of pure choice function conditions, and contrasts the new axiom set with the traditional consistency conditions. It also suggests alternative external references which could explain the choice of the median.

Suggested Citation

  • Wulf Gaertner & Yongsheng Xu, 1999. "On rationalizability of choice functions: A characterization of the median," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 16(4), pages 629-638.
    • Handle: RePEc:spr:sochwe:v:16:y:1999:i:4:p:629-638
    Note: Received: 2 June 1997/Accepted: 27 July 1998
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    Citations

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    Cited by:

    1. Walter Bossert & Kotaro Suzumura, 2011. "Rationality, external norms, and the epistemic value of menus," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(4), pages 729-741, October.
    2. Giovanni Razzu, 2021. "Economics and duty-motivated choices," Economics Discussion Papers em-dp2021-02, Department of Economics, University of Reading.
    3. Gaertner, Wulf & Xu, Yongsheng, 1997. "Optimization and external reference; a comparison of three axiomatic systems," Economics Letters, Elsevier, vol. 57(1), pages 57-62, November.
    4. Tyson, Christopher J., 2008. "Cognitive constraints, contraction consistency, and the satisficing criterion," Journal of Economic Theory, Elsevier, vol. 138(1), pages 51-70, January.
    5. Wulf Gaertner & Yongsheng Xu, 1999. "Rationality And External Reference," Rationality and Society, , vol. 11(2), pages 169-185, May.
    6. Tyson, Christopher J., 2008. "Cognitive constraints, contraction consistency, and the satisficing criterion," Journal of Economic Theory, Elsevier, vol. 138(1), pages 51-70, January.
    7. Manzini, Paola & Mariotti, Marco, 2004. "Rationalizing Boundedly Rational Choice: Sequential Rationalizability and Rational Shortlist Methods," IZA Discussion Papers 1239, Institute of Labor Economics (IZA).
    8. Ritxar Arlegi, 2001. "Rational Evaluation of Actions Under Complete Uncertainty," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0114, Departamento de Economía - Universidad Pública de Navarra.
    9. Banerjee, Taposik, 2022. "Characterization of a second-best rationalizable choice function with full domain," Research in Economics, Elsevier, vol. 76(1), pages 58-61.
    10. Donald Katzner, 2000. "Culture and the Explanation of Choice behavior," Theory and Decision, Springer, vol. 48(3), pages 241-262, May.
    11. Shintaro Tamate, 2015. "External Norms and Systematically Observed Norms," The Japanese Economic Review, Japanese Economic Association, vol. 66(2), pages 247-259, June.
    12. Paola Manzini & Marco Mariotti, 2004. "Rationalizing Boundedly Rational Choice," Microeconomics 0407005, University Library of Munich, Germany, revised 21 Dec 2005.
    13. Tyson, Christopher J., 2008. "Cognitive constraints, contraction consistency, and the satisficing criterion," Journal of Economic Theory, Elsevier, vol. 138(1), pages 51-70, January.
    14. Sebastiano Bavetta & Marco Del Seta, 2001. "Constraints and the Measurement of Freedom of Choice," Theory and Decision, Springer, vol. 50(3), pages 213-238, May.

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