Rationality and Operators

The Formal Structure of Preferences

Business & Finance, Economics, Theory of Economics
Cover of the book Rationality and Operators by Susumu Cato, Springer Singapore
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Susumu Cato ISBN: 9789811018961
Publisher: Springer Singapore Publication: August 16, 2016
Imprint: Springer Language: English
Author: Susumu Cato
ISBN: 9789811018961
Publisher: Springer Singapore
Publication: August 16, 2016
Imprint: Springer
Language: English

This unique book develops an operational approach to preference and rationality as the author employs operators over binary relations to capture the concept of rationality.

A preference is a basis of individual behavior and social judgment and is mathematically regarded as a binary relation on the set of alternatives. Traditionally, an individual/social preference is assumed to satisfy completeness and transitivity. However, each of the two conditions is often considered to be too demanding; and then, weaker rationality conditions are introduced by researchers. This book argues that the preference rationality conditions can be captured mathematically by “operators,” which are mappings from the set of operators to itself. This operational approach nests traditional concepts in individual/social decision theory and clarifies the underlying formal structure of preference rationality.

The author also applies his approach to welfare economics. The core problem of ‘new welfare economics,’ developed by Kaldor, Hicks, and Samuelson, is the rationality of social preference. In this book the author translates the social criteria proposed by those three economists into operational forms, which provide new insights into welfare economics extending beyond ‘new welfare economics.’

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This unique book develops an operational approach to preference and rationality as the author employs operators over binary relations to capture the concept of rationality.

A preference is a basis of individual behavior and social judgment and is mathematically regarded as a binary relation on the set of alternatives. Traditionally, an individual/social preference is assumed to satisfy completeness and transitivity. However, each of the two conditions is often considered to be too demanding; and then, weaker rationality conditions are introduced by researchers. This book argues that the preference rationality conditions can be captured mathematically by “operators,” which are mappings from the set of operators to itself. This operational approach nests traditional concepts in individual/social decision theory and clarifies the underlying formal structure of preference rationality.

The author also applies his approach to welfare economics. The core problem of ‘new welfare economics,’ developed by Kaldor, Hicks, and Samuelson, is the rationality of social preference. In this book the author translates the social criteria proposed by those three economists into operational forms, which provide new insights into welfare economics extending beyond ‘new welfare economics.’

More books from Springer Singapore

Cover of the book Model Validation for Power System Frequency Analysis by Susumu Cato
Cover of the book The Test and Launch Control Technology for Launch Vehicles by Susumu Cato
Cover of the book Experimental Techniques in Host-Plant Resistance by Susumu Cato
Cover of the book Knowledge Creation in Education by Susumu Cato
Cover of the book Asian Qualitative Research in Tourism by Susumu Cato
Cover of the book Culture and Communication in Thailand by Susumu Cato
Cover of the book Analysis and Synthesis of Positive Systems Under ℓ1 and L1 Performance by Susumu Cato
Cover of the book Transactions on Intelligent Welding Manufacturing by Susumu Cato
Cover of the book Probing Crystal Plasticity at the Nanoscales by Susumu Cato
Cover of the book Topology Design of Robot Mechanisms by Susumu Cato
Cover of the book Nanoelectronics, Circuits and Communication Systems by Susumu Cato
Cover of the book Teacher Learning with Classroom Assessment by Susumu Cato
Cover of the book Work-Life Balance in Construction by Susumu Cato
Cover of the book Myanmar’s Integration with the World by Susumu Cato
Cover of the book Phytoremediation Potential of Bioenergy Plants by Susumu Cato
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy