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Choice function
About: Choice function is a research topic. Over the lifetime, 728 publications have been published within this topic receiving 12516 citations.
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TL;DR: A study on the steps to follow in linguistic decision analysis is presented in a context of multi-criteria/multi-person decision making.
1,522 citations
TL;DR: In this paper, the axiomatic structure of revealed preference theory has been studied and the rationale of restricting the domain of choice functions and that of rationality conditions is critically examined, and it is shown that such a restriction makes the results unusable for other types of choices, e.g., of government bureaucracies, voters, and consumers in an imperfect market.
Abstract: (1) Much of revealed preference theory has been concerned with choices restricted to certain distinguished subsets of alternatives, in particular to a class of convex polyhedra (e.g., " budget triangles " in the two commodity case). This restriction may have some rationale for analyzing the preferences of competitive consumers, but it makes the results unusable for other types of choices, e.g., of government bureaucracies, of voters, of consumers in an imperfect market. If the restriction is removed, the axiomatic structure of revealed preference theory changes radically. This axiomatic structure is studied in Sections 2-5. In Section 6 the rationale of restricting the domain of choice functions and that of rationality conditions is critically examined.
692 citations
TL;DR: In this article, Arrow's general possibility theorem is extended without demanding any internal consistency of social choice or any notion of "social rationality." And the standard results have to be reexamined in this light.
Abstract: Internal consistency of choice has been a central concept in economics, decision theory, and social choice. This idea is essentially confused. We cannot determine whether a choice function is consistent without referring to something external to choice (e.g., objectives, values). The standard results have to be reexamined in this light. Kenneth J. Arrow's general possibility theorem is extended in this paper without demanding any internal consistency of social choice or any notion of 'social rationality.' Copyright 1993 by The Econometric Society.
660 citations
TL;DR: Holman and Marley as discussed by the authors showed that for pair comparisons, this representation is not unique; other discriminal process distributions (specifiable only in terms of their characteristic functions) also yield a model equivalent to the Choice Axiom.
418 citations
TL;DR: A sequential rationalizable choice function is a choice function that can be retrieved by applying sequentially to each choice problem the same set of asymmetric binary relations (rationales) to remove inferior alternatives as mentioned in this paper.
Abstract: A sequentially rationalizable choice function is a choice function that can be retrieved by applying sequentially to each choice problem the same xed set of asymmetric binary relations (rationales) to remove inferior alternatives. These con- cepts translate into economic language some human choice heuristics studied in psychology and explain cyclical patterns of choice observed in experiments. We study some properties of sequential rationalizability and provide a full character- ization of choice functions rationalizable by two and three rationales.
372 citations