Path independent choice and the ranking of opportunity sets

Matthew Ryan ()

Social Choice and Welfare, 2014, vol. 42, issue 1, 193-213

Abstract: The indirect utility principle provides an instrumentalist basis for ranking opportunity sets, given an underlying preference ranking on alternatives. Opportunity set A is weakly preferred to B if A includes at least one preference-maximising element from $$A\cup B$$ . We introduce the Plott consistency principle as a natural extension of this logic to decision-makers who choose amongst alternatives according to a path independent choice function. Such choice functions need not be rationalisable by a preference order. Plott consistency requires that A is an acceptable choice from $$\left\{ A, B\right\} $$ if A includes at least one element from the set of acceptable choices from $$A\cup B$$ . We explore necessary and sufficient conditions (imposed on a choice function defined on collections of opportunity sets) for Plott consistency. Copyright Springer-Verlag Berlin Heidelberg 2014

Date: 2014
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DOI: 10.1007/s00355-012-0719-6

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