Maximization and the Act of Choice

Amartya Sen

Econometrica, 1997, vol. 65, issue 4, 745-780

Abstract: The act of choosing can have particular relevance in maximizing behavior for at least two distinct reasons: (1) process significance (preferences may be sensitive to the choice process, including the identity of the chooser) and (2) decisional inescapability (choices may have to be made whether or not the judgmental process has been completed). The general approach of maximizing behavior can--appropriately formulated--accommodate both concerns, but the regularities of choice behavior assumed in standard models of rational choice will need significant modification. These differences have considerable relevance in studies of economic, social, and political behavior.

Date: 1997
References: Add references at CitEc
Citations: View citations in EconPapers (222)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Maximisation and the Act of Choice (1996)
Working Paper: Maximization and the Act of Choice (1996)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecm:emetrp:v:65:y:1997:i:4:p:745-780

Ordering information: This journal article can be ordered from
https://www.economet ... ordering-back-issues

Access Statistics for this article

Econometrica is currently edited by Guido Imbens

More articles in Econometrica from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().