Article ID Journal Published Year Pages File Type
5057583 Economics Letters 2017 4 Pages PDF
Abstract

•We provide a taxonomy of 4 known models of rationalization with (possibly) incomplete preferences.•We provide a novel characterization of rationalizability that gives a new interpretation of WARP.•Our taxonomy provides a novel axiomatic rationale for a moderate attraction effect.

This paper provides a tight axiomatic relation between the following models: the standard rational choice model, non-domination rationalizability, rationalization by an incomplete Hype-relation (Aizerman and Malishevski, 1981), and the transitive version of the partial dominant choice model (Gerasimou, 2016). Thus, providing a taxonomy of rationalization by incomplete preferences.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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