- CHOICE FUNCTIONS: RATIONALITY RE-EXAMINED

Josep E. Peris and Begoña Subiza

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: On analyzing the problem that arises whenever the set of maximal elements is large, and aselection is then required (see Peris and Subiza, 1998), we realize that logical ways of selectingamong maximals violate the classical notion and axioms of rationality. We arrive at the sameconclusion if we analyze solutions to the problem of choosing from a tournament (where maximalelements do not necessarily exist). So, in our opinion the notion of rationality must be discussed,not only in the traditional sense of external conditions (Sen, 1993) but in terms of the internalinformation provided by the binary relation.

Keywords: Rationality; Choice Functions; Maximal Elements. (search for similar items in EconPapers)
Pages: 25 pages
Date: 1999-12
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Related works:
Journal Article: Choice Functions: Rationality re-Examined (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:1999-27

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