Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2022 - This version: July 2nd, 2022
Transitivity is perhaps the most fundamental choice axiom and, therefore, almost all economic models assume that … preferences are transitive. The empirical literature has regularly documented violations of transitivity, but these violations … deterministic part of individuals' preferences. However, what if transitivity violations reflect individuals' nontransitive …
