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Sequentially Rationalizable Choice

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Author Info
Paola Manzini
Marco Mariotti

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Abstract

A sequentially rationalizable choice function is a choice function that can be retrieved by applying sequentially to each choice problem the same fixed set of asymmetric binary relations (rationales) to remove inferior alternatives. These concepts translate into economic language some human choice heuristics studied in psychology and explain cyclical patterns of choice observed in experiments. We study some properties of sequential rationalizability and provide a full characterization of choice functions rationalizable by two and three rationales. (JEL D01).

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Publisher Info
Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 97 (2007)
Issue (Month): 5 (December)
Pages: 1824-1839
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Handle: RePEc:aea:aecrev:v:97:y:2007:i:5:p:1824-1839

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  1. Jose Apesteguia & Miguel A. Ballester, 2007. "On the Complexity of Rationalizing Behavior," Economics Working Papers 1048, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
  2. Paola Manzini & Marco Mariotti, 2007. "Choice Over Time," IZA Discussion Papers 2993, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
    • Paola Manzini & Marco Mariotti, 2007. "Choice over Time," Working Papers 605, Queen Mary, University of London, Department of Economics. [Downloadable!]
  3. Ariel Rubinstein & Yuval Salant, 2007. "(A,f) Choice with Frames," Levine's Bibliography 843644000000000029, UCLA Department of Economics. [Downloadable!]
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This page was last updated on 2008-4-27.

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