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Social Choice and Welfare

, Volume 14, Issue 3, pp 403–425 | Cite as

Rational choice and revealed preference without binariness

  • Klaus Nehring

Abstract.

 This paper attempts to provide a unified account of the rationalization of possibly non-binary choice-functions by “Extended Preference Relations” (relations between sets and elements). The analysis focuses on transitive EPRs for which three choice-functional characterizations are given, two of them based on novel axioms. Transitive EPRs are shown to be rationalizable by sets of orderings that are “closed under compromise”; this novel requirement is argued to be the key to establish a canonical relationship between sets of orderings and choice-functions.

The traditional assumption of “binariness” on preference relations or choice functions is shown to be analytically unhelpful and normatively unfounded; non-binariness may arise from “unresolvedness of preference”, a previously unrecognized aspect of preference incompleteness.

Keywords

Preference Relation Rational Choice Choice Function Unify Account Traditional Assumption 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1997

Authors and Affiliations

  • Klaus Nehring
    • 1
  1. 1.Department of Economics, University of California at Davis, Davis, CA 95616, USAUS

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