Choice , internal consistency , and rationality
نویسندگان
چکیده
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, Georgia State University, Atlanta, GA 30303, U.S.A. Telephone: (404) 413 0158; Fax: 404 413 0145; E-mail: [email protected]
منابع مشابه
Shsu Economics Working Paper
The classical theory of rational choice is built on several important internal consistency conditions. In recent years, the reasonableness of those internal consistency conditions has been questioned and criticized, and several responses to accommodate such criticisms have been proposed in the literature. This paper develops a general framework to accommodate the issues raised by the criticisms...
متن کاملRationality and Uncertainty
The two approaches both have fairly straightforward interpretations in choices with certainty. The internal consistency approach has been much used in the theory of 'revealed preference', with various 'axioms' of revealed preference serving as conditions of internal consistency of choice (see Samuelson (1947))) In much of modern economic theory, 'rational choice' is seen as no more and no less ...
متن کاملExternal Norms and Rationality of Choice
Ever since Sen criticized the notion of internal consistency of choice, there exists a widespread perception that the standard rationalizability approach to the theory of choice has difficulties in coping with the existence of external norms. We introduce a concept of norm-conditional rationalizability and show that external norms can be made compatible with the methods underlying the tradition...
متن کاملRational Choice Theory: An Overview
It seems easy to accept that rationality involves many features that cannot be summarized in terms of some straightforward formula, such as binary consistency. However, this recognition does not immediately lead to alternative characterizations that might be regarded as satisfactory, even though the inadequacies of the traditional assumptions of rational behavior standard used in economic theo...
متن کاملSen on Rationality, Commitment and Preferences
This article discusses Sen’s critique of the behavioral implications of revealed preference theory. Sen proposes the concept of commitment as a way to account for the possibility of counter-preferential choice. More generally, it is part of an argument against the thesis that rationality may be reduced to some criteria of internal consistency of choices. The main purpose of this paper is to sho...
متن کامل