English, Article, Journal or magazine article edition: Social consistency and individual rationality Antoine Billot

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Bookmark: http://trove.nla.gov.au/version/44607
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Social consistency and individual rationality
Author
  • Antoine Billot
Physical Description
  • preprint
Notes
  • This paper aims at proving that social interactions can easily be rationalized by individual preferences as defined in standard microeconomic theory. For that purpose, we show individual choice rationality to be logically equivalent to social consistency, when individual rationality means that individual preferences are completely ordered and social consistency that there is a one-to-one mapping between a given family of social communities and the existence of a particular (unique, reflexive and symmetric) interaction relation between individuals. Moreover, continuity and monotonicity of individual preferences are shown to fit the modeling of group loyalty when group loyalty is defined as the ability to freely accept a personal loss for the global gain of a particular population.
  • RePEc:pse:psecon:2007-14
Language
  • English
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