Embedded choices |
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Authors: | Diego Lanzi |
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Institution: | 1.Department of Economics,University of Bologna,Bologna,Italy |
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Abstract: | In this article, we present a contextually embedded choice theory. Using concepts and tools of poset mathematics, we show how to include in rational choice theory cultural and social effects. Specifically, we define some choice superstructures, seen as choice set transformations imposed by cultural and social norms. As we shall argue, these transformations can be
of help to explain choice behavior within different contexts. Moreover, we show that, once choice superstructures are taken
into account, some well-known results about maximizing and optimizing behavior are easily confirmed and some insights on intransitive
choices may be phased out. |
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Keywords: | |
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