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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' genuinely …
Persistent link: https://www.econbiz.de/10013531822
We propose the concept of level r consensus as a useful property of a preference profile which considerably enhances the stability of social choice. This concept involves a weakening of unanimity, the most extreme form of consensus. It is shown that if a preference profile exhibits level r...
Persistent link: https://www.econbiz.de/10010398622
Several experimental studies have observed substantial violations of transitivity for decisions between risky lotteries … for generating violations of transitivity. Since we find neither substantial nor systematic deviations from transitive …
Persistent link: https://www.econbiz.de/10010317186
Several experimental studies have observed substantial violations of transitivity for decisions between risky lotteries … for generating violations of transitivity. Since we find neither substantial nor systematic deviations from transitive …
Persistent link: https://www.econbiz.de/10009503929
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Persistent link: https://www.econbiz.de/10011326859
We propose the concept of level r consensus as a useful property of a preference profile which considerably enhances the stability of social choice. This concept involves a weakening of unanimity, the most extreme form of consensus. It is shown that if a preference profile exhibits level r...
Persistent link: https://www.econbiz.de/10010356368
Persistent link: https://www.econbiz.de/10010228361
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