Revealed preference and choice under uncertainty

• Walter Bossert ^[1] ; Kotaro Suzumura ^[2]
  1. [1] University of Montreal

     University of Montreal

     Canadá

     
  2. [2] Waseda University

     Waseda University

     Japón

     
• Localización: SERIEs : Journal of the Spanish Economic Association, ISSN 1869-4195, Vol. 3, Nº. 1-2, 2012 (Ejemplar dedicado a: Salvador Barberà), págs. 247-258
• Idioma: inglés
• Enlaces
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• Resumen

  • We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory of choice, our objective is to formulate a general approach that is designed to cover the various decision criteria that have been proposed in the literature. We use a mild dominance property to define a class of suitable choice criteria. In addition to rationalizability per se, we characterize transitive and Suzumura consistent rationalizability in the presence of dominance.