Minimal Books Of Rationales

Jose Apesteguia and Miguel Ballester

No 501, Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra from Departamento de Economía - Universidad Pública de Navarra

Abstract: Kalai, Rubinstein, and Spiegler (2002) propose the rationalization of choice functions that violate the “independence of irrelevant alternatives” axiom through a collection (book) of linear orders (rationales). In this paper we present an algorithm which, for any choice function, gives (i) the minimal number of rationales that rationalizes the choice function, (ii) the composition of such rationales, and (iii) information on how choice problems are related to rationales. As in the classical case, this renders the information given by a choice function completely equivalent to that given by a minimal book of rationales. We also study the structure of several choice procedures that are prominent in the literature.

Keywords: Rationalization; Independence of irrelevant alternatives; Order partition; Computational effort. (search for similar items in EconPapers)
Pages: 16 pages
Date: 2005-02
New Economics Papers: this item is included in nep-cmp and nep-dcm
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