Showing 1 - 10 of 12
The goal of this paper is to contribute to the economic literature on ethnic and cultural diversity by proposing a new index that is informationally richer and more flexible than the commonly used ‘ethno-linguistic fractionalization’ (ELF) index. We characterize a measure of diversity among...
Persistent link: https://www.econbiz.de/10005545777
We examine the maximal-element rationalizability of choice functions with arbitrary do-mains. While rationality formulated in terms of the choice of greatest elements according to a rationalizing relation has been analyzed relatively thoroughly in the earlier litera-ture, this is not the case...
Persistent link: https://www.econbiz.de/10005545643
Single-basined preferences generalize single-dipped preferences by allowing for multiple worst elements. These preferences have played an important role in areas such as voting, strategy-proofness and matching problems. We examine the notion of singlebasinedness in a choice-theoretic setting. In...
Persistent link: https://www.econbiz.de/10011186240
Single-plateaued preferences generalize single-peaked preferences by allowing for multiple best elements. These preferences have played an important role in areas such as voting, strategy-proofness and matching problems. We examine the notion of single-plateauedness in a choice-theoretic...
Persistent link: https://www.econbiz.de/10010933660
We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory of choice, our objective is to formulate a general...
Persistent link: https://www.econbiz.de/10010933662
Single-peaked preferences have played an important role in the literature ever since they were used by Black (1948) to formulate a domain restriction that is sufficient for the exclusion of cycles according to the majority rule. In this paper, we approach single-peakedness from a...
Persistent link: https://www.econbiz.de/10005729707
This paper presents a new theory of random consumer demand. The primitive is a collection of probability distributions, rather than a binary preference. Various assumptions constrain these distributions, including analogues of common assumptions about preferences such as transitivity,...
Persistent link: https://www.econbiz.de/10005729879
Although the theory of greatest-element rationalizability and maximal-element rationalizability under general domains and without full transitivity of rationalizing relations is well-developed in the literature, these standard notions of rational choice are often considered to be too demanding....
Persistent link: https://www.econbiz.de/10005731966
Ever since Sen (1993) criticized the notion of internal consistency of choice, there exists a wide spread perception that the standard rationalizability approach to the theory of choice has difficulties coping with the existence of external social norms. This paper introduces a concept of...
Persistent link: https://www.econbiz.de/10005133162
The rationalizability of a choice function on arbitrary domains by means of a transitive relation has been analyzed thoroughly in the literature. Moreover, characterizations of various versions of consistent rationalizability have appeared in recent contributions. However, not much seems to be...
Persistent link: https://www.econbiz.de/10005353439