Ever since Sen (1993) criticized the notion of internal consistency of choice, there exists a wide spread perception that the standard rationalizability approach to the theory of choice has difficulties coping with the ...

Although the theory of greatest-element rationalizability and maximal-element rationalizability under general domains and without full transitivity of rationalizing relations is well-developed in the literature, these ...

We analyze infinite-horizon choice functions within the setting of a simple linear technology. Time consistency and efficiency are characterized by stationary consumption and inheritance functions, as well as a transversality ...

We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be generated by the optimization of some underlying decision criterion under uncertainty. Rather than ...

In a seminal contribution, Hansson has demonstrated that the family of decisive coalitions associated with an Arrovian social welfare function forms an ultrafilter. If the population under consideration is infinite, his ...

We examine properties of binary relations that complement quasi-transitivity and Suzumura consistency in the sense that they, together with the original axiom(s), are equivalent to transitivity. In general, the conjunction ...

Ever since Sen’s (1993; 1997) criticism on the notion of internal consistency or menu independence of choice, there exists a widespread perception that the standard revealed preference approach to the theory of rational ...

We characterize a class of collective choice rules such that collective preference relations are consistent. Consistency is a weakening of transitivity and a strengthening of acyclicity requiring that there be no cycles ...

In a seminal contribution, Hansson (1976) demonstrates that the collection of decisive coalitions associated with an Arrovian social welfare function forms an ultrafilter. He goes on to show that if transitivity is weakened ...

Ferejohn and Page transplanted a stationarity axiom from Koopmans’ theory of impatience into Arrow’s social choice theory with an infinite horizon and showed that the Arrow axioms and stationarity lead to a dictatorship ...