Rational preference and rationalizable choice

B-Tier
Journal: Economic Theory
Year: 2020
Volume: 69
Issue: 1
Pages: 61-105

Authors (5)

Simone Cerreia-Vioglio (not in RePEc) Alfio Giarlotta (not in RePEc) Salvatore Greco (not in RePEc) Fabio Maccheroni (not in RePEc) Massimo Marinacci (Università Commerciale Luigi B...)

Score contribution per author:

0.402 = (α=2.01 / 5 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Abstract We study a decision maker characterized by two binary relations. The first reflects his judgments about well-being, his mental preferences. The second describes the decision maker’s choice behavior, his behavioral preferences. We propose axioms that describe a relation between these two preferences, so between mind and behavior, thus disentangling two different perspectives on preferences: a description of tastes (and attitudes) and a way to organize behavioral data. We obtain two representations: one in which mental preferences uniquely determine choice behavior, another for which mental preferences direct behavior but room remains for biases and framing effects. Our results also provide a foundation for a decision analysis procedure called robust ordinal regression and proposed by Greco et al. (Eur J Oper Res 191:416–436, 2008).

Technical Details

RePEc Handle
repec:spr:joecth:v:69:y:2020:i:1:d:10.1007_s00199-018-1157-1
Journal Field
Theory
Author Count
5
Added to Database
2026-01-25