The Congruence Axiom and path independence

Citation
T. Bandyopadhyay et K. Sengupta, The Congruence Axiom and path independence, J ECON THEO, 87(1), 1999, pp. 254-266
Citations number
15
Categorie Soggetti
Economics
Journal title
JOURNAL OF ECONOMIC THEORY
ISSN journal
00220531 → ACNP
Volume
87
Issue
1
Year of publication
1999
Pages
254 - 266
Database
ISI
SICI code
0022-0531(199907)87:1<254:TCAAPI>2.0.ZU;2-G
Abstract
This paper examines the connection between path independence and transitive rationalization of a choice function in a general domain where a choice fu nction may nor include all possible non-empty subsets of the universal set. Describing a sequential choice procedure, this paper show's that the requi rement of path independence of a choice function is equivalent to Richter's Congruence Axiom and thus to its transitive rationalization. Journal of Ec onomic Literature Classification Number: D11. (C) 1999 Academic Press.