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dc.contributor.authorDasgupta, Indraneelen
dc.date.accessioned2010-01-27-
dc.date.accessioned2010-07-07T12:04:38Z-
dc.date.available2010-07-07T12:04:38Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/35955-
dc.description.abstractWe model a general choice environment via probabilistic choice correspondences, with (possibly) incomplete domain and infinite universal set of alternatives. We offer a consistency restriction regarding choice when the feasible set contracts. This condition, 'contraction consistency', subsumes earlier notions such as Chernoff's Condition, Sen's » and Ø, and regularity. We identify a restriction on the domain of the stochastic choice correspondence, under which contraction consistency is equivalent to the weak axiom of revealed preference in its most general form. When the universal set of alternatives is finite, this restriction is also necessary for such equivalence. Analogous domain restrictions are also identified for the special case where choice is deterministic but possibly multi-valued. Results due to Sen (Rev Econ Stud 38: 307-317, 1971) and Dasgupta and Pattanaik (Econ Theory 31: 35-50, 2007) fall out as corollaries. Thus, conditions are established, under which our notion of consistency, articulated only in reference to contractions of the feasible set, suffices as the axiomatic foundation for a general revealed preference theory of choice behaviour.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x4596en
dc.subject.jelD11en
dc.subject.jelD71en
dc.subject.ddc330en
dc.subject.keywordStochastic choice correspondenceen
dc.subject.keywordcontraction consistencyen
dc.subject.keywordregularityen
dc.subject.keywordChernoff's conditionen
dc.subject.keywordweak axiom of revealed preferenceen
dc.subject.keywordweak axiom of stochastic revealed preferenceen
dc.subject.keywordcomplete domainen
dc.subject.keywordincomplete domainen
dc.subject.stwPräferenztheorieen
dc.subject.stwOffenbarte Präferenzenen
dc.subject.stwTheorieen
dc.titleContraction consistent stochastic choice correspondence-
dc.type|aWorking Paperen
dc.identifier.ppn617268754en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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