Non-deteriorating Choice Without Full Transitivity
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Abstract
Although the theory of greatest-element rationalizability and maximalelement rationalizability on general domains and without full transitivity of rationalizing relations is well-developed in the literature, these standard notions of rational choice are often considered to be too demanding. An alternative definition of rationality of choice is that of non-deteriorating choice, which requires that the chosen alternatives must be judged at least as good as a reference alternative. In game theory, this definition is well-known under the name of individual rationality when the reference alternative is construed to be the status quo. This alternative form of rationality of individual and social choice is characterized in this paper on general domains and without full transitivity of rationalizing relations.
© 2007 by Lucius & Lucius, Stuttgart
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Articles in the same Issue
- Aspiration Balancing Agreements: A New Axiomatic Approach to Bounded Rationality in Negotiations
- Choices, Norms and Preference Revelation
- Indifferences and Domain Restrictions
- Non-deteriorating Choice Without Full Transitivity
- The Shortage of Human Organs: Causes, Consequences and Remedies
- Multivariate Lorenz Majorization and Heterogeneity Measures: An Axiomatic Approach
- Living Standards and Capabilities: Equal Values or Equal Sets?
- Distributing Indivisible Goods Fairly: Evidence from a Questionnaire Study
- A Critical Discussion of the Characteristic Properties of List PR and FPTP Systems
- On Chaotic Consistent Expectations Equilibria
- On Measuring Personal Connections and the Extent of Social Networks
- Instances of Indeterminacy
- Norm-Constrained Choices
