EXTERNAL NORMS AND RATIONALITY OF CHOICE

@article{Bossert2009EXTERNALNA,
  title={EXTERNAL NORMS AND RATIONALITY OF CHOICE},
  author={Walter Bossert and Kotaro Suzumura},
  journal={Economics and Philosophy},
  year={2009},
  volume={25},
  pages={139 - 152}
}
Ever since Sen criticized the notion of internal consistency of choice, there exists a widespread perception that the standard rationalizability approach to the theory of choice has difficulties in coping with the existence of external norms. We introduce a concept of norm-conditional rationalizability and show that external norms can be made compatible with the methods underlying the traditional rationalizability approach. To do so, we characterize norm-conditional rationalizability by means… 
Rationality, external norms, and the epistemic value of menus
TLDR
This article reviews approaches to the internalization of external norms as well as ways to formulate norm-conditional rationalizability and illustrates how the epistemic value of an opportunity set can be incorporated into rational choice theory.
CHOICE, INTERNAL CONSISTENCY AND RATIONALITY
The classical theory of rational choice is built on several important internal consistency conditions. In recent years, the reasonableness of those internal consistency conditions has been questioned
Self-imposed Constraints and Rationalizable Choice
Orthodox rational choice theory assumes that individuals choose what they most prefer. A necessary condition for this assumption is that the individual’s choices exhibit a minimal degree of
Can Redescriptions of Outcomes Salvage the Axioms of Decision Theory?
The basic axioms or formal conditions of decision theory, especially the ordering condition put on preferences and the axioms underlying the expected utility (EU) formula, are subject to a number of
Moral Responsibility and Individual Choice
In this paper we analyze within the framework of individual choice theory assignments of moral responsibility. For this purpose we introduce a so-called responsibility function that describes for any
External Norms and Systematically Observed Norms
type="main"> Both Amartya Sen and behavioural economics criticize the rationality assumption and attempt to make it more realistic so that it can explain individuals' real and non-trivial normative
Reason-Based Rationalization
"Reason-based rationalizations" explain an agent's choices by specifying which properties of the options or choice context he/she cares about (the "motivationally salient properties") and how he/she
Rationality and Context-Dependent Preferences
The standard theory of rational choice in economics considers an agent’s choices to be rational if and only if the agent makes her choices in different choice situations on the basis of a fixed
Consistency, Choice, and Rationality
In Consistency, Choice, and Rationality, economic theorists Walter Bossert and Kotaro Suzumura present a thorough mathematical treatment of Suzumura consistency, an alternative to established
On the Individuation of Choice Options
Decision theorists have attempted to accommodate several violations of decision theory’s axiomatic requirements by modifying how agents’ choice options are individuated and formally represented. In
...
...

References

SHOWING 1-10 OF 48 REFERENCES
Choices, Norms and Preference Revelation
Abstract This paper considers lexical combinations of choice functions where at least one is interpreted as arising from a norm. It is shown that in for all possibilities in which a norm is present,
Choices, Consequences, And Rationality
TLDR
A generalized theory of revealed preference is formulated for choice situations where the consequences of choices from given menus are uncertain and Rational choice is characterized under various assumptions on these relations.
INTERNAL CONSISTENCY OF CHOICE
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
A Note on the Pure Theory of Consumer's Behaviour
FROM its very beginning the theory of consumer's choice has marched steadily towards greater generality, sloughing off at successive stages unnecessarily restrictive conditions. From the time of
On rationalizability of choice functions: A characterization of the median
Abstract.In this paper we characterize choice behaviour that picks the median element from a set of feasible alternatives. It is easily seen that this choice behaviour violates most of the standard
Rationalizability of choice functions on general domains without full transitivity
TLDR
The logical relationships between the different notions of rationalizability involving, for example, the transitivity, quasi-transitivity, or acyclicity of the rationalizing relation are described.
Rational Choice and Revealed Preference
According to the currently dominant view, the choice behaviour of an agent is construed to be rational if there exists a preference relation R such that, for every set S of available states, the
On the structure of choice under different external references
Summary. In this paper we fully characterize an individual's choice behaviour according to three different so–called external references. The first system which we describe axiomatically is standard
Remarks on the Theory of Collective Choice
Ever since the so-called paradox of voting was generalized by Arrow (1963) to every democratic method of collective decision-making, a vast literature has appeared (a) trying to circumvent Arrow's
Social Choice and Individual Values.
Originally published in 1951, Social Choice and Individual Values introduced "Arrow's Impossibility Theorem" and founded the field of social choice theory in economics and political science. This new
...
...