Week 2: Rational Preferences

After this week, you should…

• understand the mathematical notions needed to study rational choice theory (\(x\in X\), \(X\times X\), \(R\subseteq X\times X\)).
• be able to define the notions of asymmetry, completeness, and transitivity for a relation \(R\).
• be able to define maximal and maximum elements of a set given a relation \(R\).
• be able to define a rational preference relation.

Lecture 1 (Sep 8:   slides)

• Hausman, Preference Axioms
• Transitivity
• Completeness
• Rational Preferences
• Preference and Choice

Lecture 2 (Sep 10:   slides)

• Hausman, Preference Axioms
• Transitivity
• Completeness
• Rational Preferences
• Preference and Choice

Weekly Assignments

Problem Set 1 is due Sep 12.

Make sure that you have answered all the participation questions for Week 2 asked during the lectures (the questions asked on Tophat).

Ask questions on Piazza!