New concept of self-stability revolutionizes social choice functions.
Choice in social contexts can be tricky to rationalize, leading to problems like Arrow's impossibility theorem. To address this, the concept of set-rationalizability is introduced, where preferences over sets of options are used. By applying new consistency conditions, it was found that a choice function is set-rationalizable if it satisfies a specific condition called . Additionally, if a choice function satisfies both and , it is considered self-stable, which includes appealing social choice functions like the minimal covering set and the essential set.