Rationality and Operators: The Formal Structure of Preferences

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 demandin...