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Research Details

The Leveling Axiom, Theory and Decision

Abstract

We characterize general constraints under which rational choices are characterized by asymmetric revealed preferences. A key feature of our main characterization result is expressed by the leveling axiom. We also consider the special case of a law-abiding decision maker who chooses optimally among legal options. We show that the law does not necessarily satisfy the leveling axiom and, therefore, transitivity adds empirical content to law-abiding choices.

Type

Article

Author(s)

Alvaro Sandroni, Leo Katz

Date Published

2024

Citations

Sandroni, Alvaro, and Leo Katz. 2024. The Leveling Axiom. Theory and Decision.: 135-152.

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