On the problem of constructing rational preferences

Markey-Towler, Brendan (2016) On the problem of constructing rational preferences. Economic Record, 92 S1: 68-82. doi:10.1111/1475-4932.12275


Author Markey-Towler, Brendan
Title On the problem of constructing rational preferences
Journal name Economic Record   Check publisher's open access policy
ISSN 1475-4932
0013-0249
Publication date 2016-06-01
Year available 2016
Sub-type Article (original research)
DOI 10.1111/1475-4932.12275
Open Access Status Not Open Access
Volume 92
Issue S1
Start page 68
End page 82
Total pages 15
Place of publication Richmond, VIC, Australia
Publisher Wiley-Blackwell Publishing Asia
Language eng
Abstract In standard models it is typically taken for granted that preferences are given and defined over the alternatives alone, and the possibility of making a rational choice is a matter of assumption. I generalise this aspect of the economic model so that preferences over alternatives are constructed from given preferences defined over various characteristics of the alternatives under consideration. I characterise the decision problem before investigating what conditions a procedure for aggregating preferences over attributes into preferences over alternatives must satisfy in order for the latter to be rational. I then consider what the implications of these conditions for the procedural rationality of the aggregation process
Keyword Rational Preferences
Choice
Multiple attributes
Economic model
Procedural rationality
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: HERDC Pre-Audit
School of Economics Publications
 
Versions
Version Filter Type
Citation counts: TR Web of Science Citation Count  Cited 0 times in Thomson Reuters Web of Science Article
Scopus Citation Count Cited 0 times in Scopus Article
Google Scholar Search Google Scholar
Created: Sat, 09 Jul 2016, 15:22:14 EST by System User on behalf of Learning and Research Services (UQ Library)