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Validating the Postulates of rational Choice in the Context of economical Fuel Consumption of Vehicles

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  • Mullat, Joseph

Abstract

We have introduced an innovative procedure called "blind statistical scoring" that simplifies the analysis of statistical indicators. This procedure aligns with the principle of parsimony, also known as Ockham's razor. By applying this procedure, we confirm several postulates within the concept of bounded rationality of choice. To illustrate this phenomenon, we conducted an experiment with the data provided by Spritmonitor.de website, which contains data, search results, texts, graphics, software and other information.

Suggested Citation

  • Mullat, Joseph, 2023. "Validating the Postulates of rational Choice in the Context of economical Fuel Consumption of Vehicles," MPRA Paper 117929, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:117929
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    File URL: https://mpra.ub.uni-muenchen.de/117929/1/Irrational-Comp-Car.pdf
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    References listed on IDEAS

    as
    1. Tomasz Strzalecki, 2011. "Axiomatic Foundations of Multiplier Preferences," Econometrica, Econometric Society, vol. 79(1), pages 47-73, January.
    2. Jamison, Dean T & Lau, Lawrence J, 1973. "Semiorders and the Theory of Choice," Econometrica, Econometric Society, vol. 41(5), pages 901-912, September.
    3. Jamison, Dean T & Lau, Lawrence J, 1975. "Semiorders and the Theory of Choice: A Correction," Econometrica, Econometric Society, vol. 43(5-6), pages 979-980, Sept.-Nov.
    4. Mullat J. E., 1996. "A fast algorithm for finding matching responses in a survey data table," Mathematical Social Sciences, Elsevier, vol. 31(1), pages 61-61, February.
    5. Amartya K. Sen, 1971. "Choice Functions and Revealed Preference," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(3), pages 307-317.
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    More about this item

    Keywords

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    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • G0 - Financial Economics - - General
    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • Y1 - Miscellaneous Categories - - Data: Tables and Charts
    • Y10 - Miscellaneous Categories - - Data: Tables and Charts - - - Data: Tables and Charts

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