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Persistent link: https://www.econbiz.de/10010779290
The classical theory of rational choice is built on several important internal consistency conditions. In recent years, the reasonableness of those internal consistency conditions has been questioned and criticized, and several responses to accommodate such criticisms have been proposed in the...
Persistent link: https://www.econbiz.de/10009141673
In decision-making involving multiple criteria or attributes, a decision maker first identifies all relevant evaluative attributes in making decisions. Then, a dominance principle is often invoked whenever applicable: whenever an option <italic>x</italic> is better than an option <italic>y</italic> in terms of some attribute and...
Persistent link: https://www.econbiz.de/10011067414
Ever since Sen criticized the notion of internal consistency of choice, there exists a widespread perception that the standard rationalizability approach to the theory of choice has difficulties in coping with the existence of external norms. We introduce a concept of <italic>norm-conditional...</italic>
Persistent link: https://www.econbiz.de/10008782868