Basic Quasirationality
Science Direct Working Paper No S1574-0358(04)70668-1
7 Pages Posted: 2 Apr 2018
Date Written: September 2001
Abstract
In this paper we attempt to arrive at axiomatic characterizations of choice functions which are subrational and where chosen elements are a subset of the solution set obtained by maximizing a binary relation. We also try to provide axiomatic characterizations of choice functions where choice sets contain atleast one solution obtained by maximizing a binary relation. We call such choice functions quasirational. A particular type of quasirational choice functions are what we call consistent choice functions. We provide an axiomatization of such solutions in this paper as well.
Keywords: Control and Optimization, Logic, Applied Mathematics, Applied_mathematics/0109006
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