Incomplete preferences and rational intransitivity of choice

  title={Incomplete preferences and rational intransitivity of choice},
  author={Michael Mandler},
  journal={Games and Economic Behavior},
Do violations of classical rationality theory imply that agents are acting against their self-int To answer this question, we investigate whether completeness and transitivity necessarily ho agents chooseoutcome rationally—that is, their choice sequences do not lead to dominated comes. We show that, because of the danger of money pumps and other manipulations, o rationality implies that agents must have transitive psychological preferences. Revealed prefe on the other hand, must be complete… CONTINUE READING
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