Von Neumann–Morgenstern stable set rationalization of choice functions

Vicki Knoblauch ()
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Vicki Knoblauch: University of Connecticut

Theory and Decision, 2020, vol. 89, issue 3, No 6, 369-381

Abstract: Abstract Two scenarios illustrate uses of von Neumann–Morgenstern stable sets in the construction of choice functions. A comparison is made to the construction of choice functions by the selection of maximal elements. A characterization is given of choice functions that are von Neumann–Morgenstern stable set rationalizable by acyclic, asymmetric binary relations. Two examples illustrate the use of the characterization.

Keywords: Von Neumann–Morgenstern stable set; Choice function; Rationalization of choice (search for similar items in EconPapers)
JEL-codes: D11 D71 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s11238-020-09755-3

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