Social Norms and Rationality of Choice
Ever since Sen (1993) criticized the notion of internal consistency of choice, there exists a wide spread perception that the standard rationalizability approach to the theory of choice has difficulties coping with the existence of external social norms. This paper introduces a concept of norm-conditional rationalizability and shows that external social norms can be accommodated so as to be compatible with norm-conditional rationalizability by means of suitably modified revealed preference axioms in the theory of rational choice on general domains à la Richter (1966;1971) and Hansson (1968)
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- Bossert, W. & Sprumont, Y. & Suzumura, K., 2001.
"Rationalizability of Choice Functions on General Domains without Full Transitivity,"
Cahiers de recherche
2001-13, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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Cahiers de recherche
2002-12, Universite de Montreal, Departement de sciences economiques.
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