Choice functions and hard choices

Martin van Hees, Akshath Jitendranath and Roland Iwan Luttens

Journal of Mathematical Economics, 2021, vol. 95, issue C

Abstract: A hard choice is a situation in which an agent is unable to make a justifiable choice from a given menu of alternatives. Our objective is to present a systematic treatment of the axiomatic structure of such situations. To do so, we draw on and contribute to the study of choice functions that can be indecisive, i.e., that may fail to select a non-empty set for some menus. In this more general framework, we present new characterizations of two well-known choice rules, the maximally dominant choice rule and the top-cycle choice rule. Together with existing results, this yields an understanding of the circumstances in which hard choices arise.

Keywords: Indecisive choice function; Hard choice; Maximally dominant choice; Top-cycle choice (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:95:y:2021:i:c:s0304406821000173

DOI: 10.1016/j.jmateco.2021.102479

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