On Rationalizability of Choice Functions: A Characterization of the Median
Posted: 18 Oct 1999
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 consistency conditions for set contraction and set expansion. The paper offers a complete characterization in terms of pure choice function conditions, and contrasts the new axiom set with the traditional consistency conditions. It also suggests alternative external references which could explain the choice of the median.
JEL Classification: D71
Suggested Citation: Suggested Citation
Gaertner, Wulf and Xu, Yongsheng, On Rationalizability of Choice Functions: A Characterization of the Median. Available at SSRN: https://ssrn.com/abstract=179777
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.