Preferences and Similarity between Alternatives

Constanze Binder ()
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Constanze Binder: Erasmus University Rotterdam

Rationality, Markets and Morals, 2014, vol. 5, issue 88

Abstract: We discuss how information about choice-relevant differences between alternatives can be revealed from preference information. We provide axiomatic characterisations of two classes of Similarity Revelation Rules: one that allows for different similarity thresholds for different pairs of alternatives, and one in which the threshold is the same for all pairs of alternatives. A third result proves the necessary and sufficient condition for the characterised class of rules to yield a transitive similarity relation. The article concludes with a discussion of the limitations of the analysis and the relationship between transitivity (of preferences) and the choice-relevant similarities between options.

Keywords: Preference; Similarity; Transitivity; Freedom Ranking; Rational Choice; Social Choice (search for similar items in EconPapers)
Date: 2014
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