Research

On randomized rationality


Reference:

Nandeibam, S., 2011. On randomized rationality. Social Choice and Welfare, 37 (4), pp. 633-641.

Related documents:

This repository does not currently have the full-text of this item.
You may be able to access a copy if URLs are provided below. (Contact Author)

Official URL:

http://dx.doi.org/10.1007/s00355-011-0578-6

Abstract

In contrast to the traditional notion of rationalizability of stochastic choice which requires the preference relations to be strict, we propose a notion of rationalizability without requiring the preference relations to be strict. Our definition is based on the simple hypothesis of a two-stage choice process: stage (i) a preference relation R is drawn according to a probability assignment; stage (ii) an alternative is picked from each feasible set according to a uniform lottery over the R-greatest set in it. We provide a necessary and sufficient condition for rationalizability of stochastic choice. Since our framework is general enough to subsume the traditional case, our result also provides an alternative characterization of the traditional notion of rationalizability. We also show the equivalence between the two notions of rationalizability in a specific case.

Details

Item Type Articles
CreatorsNandeibam, S.
DOI10.1007/s00355-011-0578-6
DepartmentsFaculty of Humanities & Social Sciences > Economics
RefereedYes
StatusPublished
ID Code27129

Export

Actions (login required)

View Item