Interrelationships among fuzzy preference-based choice functions and significance of rationality conditions: A taxonomic and intuitive perspective

Abstract

Classical choice theory deals with the issue of making a rational choice from a crisp preference relation. Arguing that human preferences are inherently imprecise, a lot of work has been done in the area of choice-making behavior using fuzzy preferences. This paper traces the evolution of research in the area of choice functions and related notions of rational choice, when fuzzy preferences are allowed. We have critically analyzed the work of various authors, especially with respect to intuitive underpinnings of introduced notions, by giving examples. We also present a unified picture of, and interrelationships between, choice functions and rationality conditions proposed by various authors. Based on these discussions, we suggest possible directions for future work. © 2000 Elsevier Science B.V. All rights reserved.