Rationalising Choice with Multi‐Self Models

21 Pages Posted: 22 Jun 2015

See all articles by Attila Ambrus

Attila Ambrus

Duke University - Department of Economics

Kareen Rozen

Brown University - Department of Economics

Date Written: June 2015

Abstract

This article shows that when multiple selves' preferences are aggregated into a decision, even if the researcher has a fully specified theory of how preferences get aggregated, there are typically no testable implications without restricting the number of selves. This points to the importance of collecting reliable information on the number of selves in interpersonal and intrapersonal decision‐making contexts. We establish the result through a linear relationship between the number of selves and the set of choice functions an aggregator is guaranteed to rationalise. The latter relates to a choice function's number of independence of irrelevant alternatives violations, a new measure of irrationality.

Suggested Citation

Ambrus, Attila and Rozen, Kareen, Rationalising Choice with Multi‐Self Models (June 2015). The Economic Journal, Vol. 125, Issue 585, pp. 1136-1156, 2015. Available at SSRN: https://ssrn.com/abstract=2621067 or http://dx.doi.org/10.1111/ecoj.12103

Attila Ambrus

Duke University - Department of Economics ( email )

100 Fuqua Drive
Durham, NC 27708-0204
United States

Kareen Rozen (Contact Author)

Brown University - Department of Economics ( email )

64 Waterman Street
Providence, RI 02912
United States

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