Consider an agent with fuzzy preferences, who has to make exact choices when faced with different feasible sets of alternatives. Confining our analysis to the case of feasible sets with not more than two alternatives, we axiomatically characterize two broad classes of decision rules (`ratio...

Banerjee and Pattanaik (1996) proved a theorem that the maximal set with respect to a quasi-ordering can be fully recovered by defining the greatest sets with respect to each and every ordering extension thereof and taking their union. Donaldson and Weymark (1998) proved a theorem that a...

In this paper we characterize choice behaviour that picks the median element from a set of feasible alternatives. It is easily seen that this choice behaviour violates most of the standard consistency conditions for set contraction and set expansion. The paper offers a complete characterization...

Two features of Arrow’s social choice theory are critically scrutinized. The first feature is the welfarist-consequentialism, which not only bases social judgements about right or wrong actions on the assessment of their consequences, but also assesses consequences in terms of people’s...