 Rational action in economics means that each agent acts to maximize her “preferences” in whatever environment she finds herself. A preference is a ranking of the elements in her domain of preference. The agent’s domain of preference consists of the things that fundamentally matter to her. In standard models of consumer behavior, for example, the agent has fundamental preferences over consumption bundles. Her decision problem consists of choosing a consumption bundle from the set of feasible consumption bundles, where feasibility is defined by the prices of goods and the agent’s income. Arlen and Kornhauser [2021] elaborate on the structure of preferences in economic analysis of law. 