A fully rational choice would require
A) consumers to be risk-neutral.
B) choices to be independent of relevant alternatives.
C) consumers to be risk-averse.
D) choices to be independent of irrelevant alternatives.
E) consumers to not consider recent outcomes.

Question

Quizplus · Accepted Answer

A fully rational choice would require choices to be independent of irrelevant alternatives, meaning that the addition or removal of an option that is not being considered should not influence the decision between the remaining options. This is one of the assumptions of the rational choice theory.

A Fully Rational Choice Would Require