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Rationalizing Decision Choices: What Influences our Social Decision Making?

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  • Chatterjee, Sidharta

Abstract

The goal of this paper is to examine and analyze how certain factors influence our social decision making process. I undertake an investigative study into the dynamics of rational choice theory which is behind making decisions rationally productive. The research touches on the foundational concepts of Social Choice Rationality—the theory that is grounded on searching and making choices socially rational for the decision maker. The welfare functional component of social choice theory underlying rational decision making have been examined, and new knowledge have been derived from the analysis that could be helpful for making collective decisions which concern public policy and social welfare.

Suggested Citation

  • Chatterjee, Sidharta, 2022. "Rationalizing Decision Choices: What Influences our Social Decision Making?," MPRA Paper 114985, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:114985
    as

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    File URL: https://mpra.ub.uni-muenchen.de/114996/1/MPRA_paper_114996.pdf
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    References listed on IDEAS

    as
    1. Gibbard, Allan F., 2014. "Social Choice And The Arrow Conditions," Economics and Philosophy, Cambridge University Press, vol. 30(3), pages 269-284, November.
    2. Chatterjee, Sidharta, 2022. "Decision Choice under Pareto Optimal Criteria," MPRA Paper 114254, University Library of Munich, Germany.
    3. Sen, Amartya K, 1977. "Social Choice Theory: A Re-examination," Econometrica, Econometric Society, vol. 45(1), pages 53-89, January.
    4. Pattanaik, Prasanta K., 1973. "On the stability of sincere voting situations," Journal of Economic Theory, Elsevier, vol. 6(6), pages 558-574, December.
    5. Amartya Sen, 1997. "Maximization and the Act of Choice," Econometrica, Econometric Society, vol. 65(4), pages 745-780, July.
    6. Sen, Amartya, 1995. "Rationality and Social Choice," American Economic Review, American Economic Association, vol. 85(1), pages 1-24, March.
    7. Karni, Edi & Schmeidler, David, 1990. "Fixed Preferences and Changing Tastes," American Economic Review, American Economic Association, vol. 80(2), pages 262-267, May.
    8. Pattanaik, Prasanta K & Suzumura, Kotaro, 1994. "Rights, Welfarism, and Social Choice," American Economic Review, American Economic Association, vol. 84(2), pages 435-439, May.
    9. Bhattacharyya, Aditi & Pattanaik, Prasanta K. & Xu, Yongsheng, 2011. "Choice, Internal Consistency And Rationality," Economics and Philosophy, Cambridge University Press, vol. 27(2), pages 123-149, July.
    10. Unnikrishnan, Vidhya & Imai, Katsushi S., 2020. "Does the old-age pension scheme improve household welfare? Evidence from India," World Development, Elsevier, vol. 134(C).
    11. Sen, Amartya, 1993. "Internal Consistency of Choice," Econometrica, Econometric Society, vol. 61(3), pages 495-521, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Decision choice; rational choice theory; rational intelligence; social choice theory; social choice rationality.;
    All these keywords.

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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