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Published online by Cambridge University Press:  22 June 2011

Aditi Bhattacharyya
Sam Houston State University
Prasanta K. Pattanaik
University of California, Riverside
Yongsheng Xu
Georgia State University


The classical theory of rational choice is built on several important internal consistency conditions. In recent years, the reasonableness of those internal consistency conditions has been questioned and criticized, and several responses to accommodate such criticisms have been proposed in the literature. This paper develops a general framework to accommodate the issues raised by the criticisms of classical rational choice theory, and examines the broad impact of these criticisms from both normative and positive points of view.

Copyright © Cambridge University Press 2011

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