We weaken the implicit assumption of rational choice theory that imposes that preferences do not depend on the choice set. We concentrate on the cases where the preferences change monotonically when the choice set expands. We show that rationalizability is then equivalent to state the usual strong axiom of revealed preferences to the binary relation of "revealed reversals of preferences".

Revealed preferences are tastes that rationalize an economic agent's observed actions. Normative preferences represent the agent's actual interests. It sometimes makes sense to assume that revealed preferences are identical to normative preferences. But there are many cases where this assumption is violated. We identify five factors that increase the likelihood of a disparity between revealed p...

We survey the empirical evidence on subjects' desire to randomize and its relation stochastic choice. Preferences for randomization are documented by a substantial body of work using different methodologies in several domains, including objective lotteries ambiguous gambles, social preferences, time games. The is correlated across domains related standard relate this models nonexpected utility ...