Choice functions: rationality re-examined

Citation
B. Subiza et Je. Peris, Choice functions: rationality re-examined, THEOR DECIS, 48(3), 2000, pp. 287-304
Citations number
15
Categorie Soggetti
Economics
Journal title
THEORY AND DECISION
ISSN journal
00405833 → ACNP
Volume
48
Issue
3
Year of publication
2000
Pages
287 - 304
Database
ISI
SICI code
0040-5833(200005)48:3<287:CFRR>2.0.ZU;2-A
Abstract
On analyzing the problem that arises whenever the set of maximal elements i s large, and a selection is then required (see Peris & Subiza 1998), we rea lize that logical ways of selecting among maximals violate the classical no tion and axioms of rationality. We arrive at the same conclusion if we anal yze solutions to the problem of choosing from a tournament (where maximal e lements do not necessarily exist). So, in our opinion the notion of rationa lity must be discussed, not only in the traditional sense of external condi tions (Sen 1993), but in terms of the internal information provided by the binary relation.