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Development Bank of Japan Research Series

Rationality and Operators

The Formal Structure of Preferences

Authors: Cato, Susumu

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  • ŸDevelops a comprehensive approach to rationality of preference relation by employing operators on binary relations
  • Provides mathematically useful results of operators on binary relations and synthesizes traditional concepts and approaches
  • Proposes applications to traditional welfare economics to shed light on a new aspect of the relationship between social welfare and rationality
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eBook 46,00 €
price for Spain (gross)
  • ISBN 978-981-10-1896-1
  • Digitally watermarked, DRM-free
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  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 57,19 €
price for Spain (gross)
  • ISBN 978-981-10-1895-4
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

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.’

Reviews

“The book is very clearly written and contains original results concerning a modern and fruitful approach to the study of preferences. It appears as useful for a large audience in both mathematics and economics.” (Gianni Bosi, Mathematical Reviews, July, 2019)

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook 46,00 €
price for Spain (gross)
  • ISBN 978-981-10-1896-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 57,19 €
price for Spain (gross)
  • ISBN 978-981-10-1895-4
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Rationality and Operators
Book Subtitle
The Formal Structure of Preferences
Authors
Series Title
Development Bank of Japan Research Series
Copyright
2016
Publisher
Springer Singapore
Copyright Holder
Development Bank of Japan
eBook ISBN
978-981-10-1896-1
DOI
10.1007/978-981-10-1896-1
Softcover ISBN
978-981-10-1895-4
Series ISSN
2367-0967
Edition Number
1
Number of Pages
IX, 124
Number of Illustrations
1 b/w illustrations
Topics

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