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Trust is central to all transactions and yet economists rarely discuss the notion. 1 It is treated rather as background environment, present whenever called upon, a sort of ever-ready lubricant that permits voluntary participation in production and exchange. In the standard model of a market economy it is taken for granted that consumers meet their budget(More)
  • Yuval Salant, Michael Borns, Michal Maimaran, Zvika Neeman, Abraham Neyman, Motty Perry +2 others
  • 2003
A choice function is a rule that chooses a single alternative from every set of alternatives drawn from a finite ground set. A rational-izable choice function satisfies the consistency condition; i.e., if an alternative is chosen from a set A, then the same alternative is also chosen from every subset of A that contains it. In this paper we study(More)
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