Choice, Rationality, and Substance Dependence

Choice, rationality, and substance dependence.

Choice, Rationality and Welfare Measurement

We present a method for evaluating the welfare of a decision maker, based on observed choice data. Unlike the standard economic theory of revealed preference, our method is can be used whether or not the observed choices are rational. Paralleling the standard theory we present a model for choice such that the observations arise "as if" they were the result of a speci…c decision making process. ...

Collective Rationality and Social Choice

Arrow’s impossibility theorem states that if a collective choice rule satisfies unrestricted domain, weak Pareto, independence of irrelevant alternatives, and collective rationality, then there exists a dictator. Among others, Arrow’s postulate of collective rationality is controversial. We propose a new axiom for a collective choice rule, decisiveness coherence, which is weaker than collective...

Choice , internal consistency , and rationality

Choice, internal consistency, and rationality* Aditi Bhattacharyya Telephone: (951) 970 3431; E-mail: [email protected] Prasanta K. Pattanaik Department of Economics, University of California, Riverside, CA 92521, U.S.A. Telephone: (951) 789 7265; Fax: (951) 789 7265; E-mail: [email protected] Yongsheng Xu Department of Economics, Andrew Young School of Policy Studies, Georg...

Individual Rationality in Collective Choice

This paper studies the rationality of an individual player in sequential games of perfect information played with other players who are not necessarily rational. The paper proposes a set of properties on the choice behavior and shows that they are equivalent to the rationality of an individual player at the initial node independently of the behavioral norm of the other players. Furthermore, I s...