Consistency, Choice, and Rationality

An impressive and magisterial work from the top contributors in the world on choice-demand theory. -- Maurice Salles, University of Caen In this probing and innovative exploration of the foundations and analytical properties of reasoned choice, two of the most powerful contributors to choice theory have clarified and extended our understanding of these issues in a definitive way. We have reasons to be grateful. -- Amartya Sen, Harvard University

Presents a mathematical treatment of Suzumura consistency, an alternative to established coherence properties such as transitivity, quasi-transitivity, or acyclicity. This title discusses applications in individual and social choice theory, fields important not only to economics but also to philosophy and political science.In Consistency, Choice, and Rationality, economic theorists Walter Bossert and Kotaro Suzumura present a thorough mathematical treatment of Suzumura consistency, an alternative to established coherence properties such as transitivity, quasi-transitivity, or acyclicity. Applications in individual and social choice theory, fields important not only to economics but also to philosophy and political science, are discussed. Specifically, the authors explore topics such as rational choice and revealed preference theory, and collective decision making in an atemporal framework as well as in an intergenerational setting.