Society of Real Economists
October 22nd 2006 @ 4:47 pm General Economics

I’m not sure if I’m in. I don’t have a problem with the first two requirements, but to say that motivations and intentions are irrelevant is a bit too far for me.

This is equivalent to saying any choice from a menu need only be internally consistent; because motivations and the like are external to the choice set we do not need any correspondence between choices (internal) and motivations (external).

This is a typical rationality condition but it can easily fail. If I choose x over y AND y over x, this doesn’t appear to make sense, unless my objective is to confuse you, act crazy etc. But this requires linking the choices in the menu with a motivation.

-william
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