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On the relationship between true preference and actual choice

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Abstract

Two different reasons are considered for the divergence of actual choice from true preferences, with the latter assumed fully transitive. These are the presence of finite perception and incomplete expression. The two have a dual correspondence, with one yielding true preference more stringent, the other less stringent, than actual choice. In each case, actual choice can be “rationalised”; to yield a closer approximation to true preference for finite perception choice, given the alternatives over which choice is made, and to yield a minimal transitive ordering for incomplete expression.

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Authors and Affiliations

  1. Department of Economics, School of Oriental and African Studies, University of London, Thornhaugh St, WC1H OXG, Russell Square, London, UK

    Ben Fine

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  1. Ben Fine
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Fine, B. On the relationship between true preference and actual choice. Soc Choice Welfare 12, 353–361 (1995). https://doi.org/10.1007/BF00186279

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  • DOI: https://doi.org/10.1007/BF00186279

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