External Norms and Rationality of Choice ∗

@inproceedings{Bossert2008ExternalNA,
  title={External Norms and Rationality of Choice ∗},
  author={Walter Bossert},
  year={2008}
}
Ever since Sen (1993) 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… CONTINUE READING