Consistent Rationalizability

Walter Bossert, Yves Sprumont (), Kotaro Suzumura and 興太郎 鈴村

No 82, Discussion Paper from Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University

Abstract: Consistency of a binary relation requires any preference cycle to involve indifference only. As shown by Suzumura (1976b), consistency is necessary and sufficient for the existence of an ordering extension of a relation. Because of this important role of consistency, it is of interest to examine the rationalizability of choice functions by means of consistent relations. We describe the logical relationships between the different notions of rationalizability obtained if reflexivity or completeness are added to consistency, both for greatest-element rationalizability and for maximal-element rationalizability. All but one notion of consistent rationalizability are characterized for general domains, and all of them are characterized for domains that contain all two-element subsets of the universal set.

Keywords: Rational Choice; Consistency; Binary Domains (search for similar items in EconPapers)
JEL-codes: D11 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2002-04
Note: June 2002, Financial support through grants from the Social Sciences and Humanities Research Council of Canada, the Fonds pour la Formation de Chercheurs et l'Aide ? la Recherche of Qu?bec, and a Grant-in-Aid for Scientific Research for Priority Areas (B) Number 603 from the Ministry of Education, Science and Culture of Japan is gratefully acknowledged.
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Citations: View citations in EconPapers (1)

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Working Paper: Consistent Rationalizability (2002)
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