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| Author: | Bhattacharyya, A. Pattanaik, P. K. Xu, Y. |
| Title: | Choice, internal consistency and rationality |
| Journal: | Economics and philosophy
2011 : JUL, VOL 27:2 p.123-149 |
| Index terms: | choice theory rationality |
| Freeterms: | choice internal consistency distinguishability menu-dependent criteria and information |
| Language: | eng |
| Abstract: | Classical rational choice theory is built on several important internal consistency conditions. In recent years, the reasonableness of those internal consistency conditions have been questioned and criticized, and several responses to accommodate such criticisms have been proposed in the literature. This article develops a general framework to accommodate the issues raised by criticisms of classical rational choice theory, and investigates the broad strike of the criticisms on rational choice theory from both a normative and positive point of view. |
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