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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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File URL: http://hdl.handle.net/10.1257/aer.97.5.1824
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File URL: http://www.aeaweb.org/articles/article_detail.php?journal=AER&volume=97&issue=5&article=12&issue_date=December2007
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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. Stefano Ficco & Vladimir Karamychev, 2009. "Preference for flexibility in the absence of learning: the risk attitude effect," Economic Theory, Springer, vol. 40(3), pages 405-426, September. [Downloadable!] (restricted)
  2. Dulleck, Uwe & Hackl, Franz & Weiss, Bernhard & Winter-Ebmer, Rudolf, 2008. "Buying Online: Sequential Decision Making by Shopbot Visitors," Economics Series 225, Institute for Advanced Studies. [Downloadable!]
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  3. Paola Manzini & Marco Mariotti, 2009. "Consumer choice and revealed bounded rationality," Economic Theory, Springer, vol. 41(3), pages 379-392, December. [Downloadable!] (restricted)
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  4. Nicolas Houy, 2008. "Progressive knowledge revealed preferences and sequential rationalizability," Working Papers hal-00360546_v1, HAL. [Downloadable!]
  5. Michele Lombardi, 2008. "Uncovered set choice rules," Social Choice and Welfare, Springer, vol. 31(2), pages 271-279, August. [Downloadable!] (restricted)
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  6. Eddie Dekel & Barton L. Lipman, 2009. "How (Not) to Do Decision Theory," Levine's Working Paper Archive 814577000000000339, David K. Levine. [Downloadable!]
  7. Nicolas Houy, 2008. "Prudent choices and rationality," Working Papers hal-00360518_v1, HAL. [Downloadable!]
  8. Jose Apesteguia & Miguel A. Ballester, 2008. "A Characterization of Sequential Rationalizability," Economics Working Papers 1089, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
  9. Attila Ambrus & Kareen Rozen, 2008. "Revealed Conflicting Preferences," Levine's Working Paper Archive 122247000000002161, David K. Levine. [Downloadable!]
  10. Attila Ambrus & Kareen Rozen, 2008. "Rationalizing Choice with Multi-Self Models," Cowles Foundation Discussion Papers 1670, Cowles Foundation, Yale University, revised Oct 2009. [Downloadable!]
  11. Mandler, Michael & Manzini, Paola & Mariotti, Marco, 2008. "A Million Answers to Twenty Questions: Choosing by Checklist," IZA Discussion Papers 3377, Institute for the Study of Labor (IZA). [Downloadable!]
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  12. 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!]
  13. Paola Manzini & Marco Mariotti, 2007. "Choice Over Time," IZA Discussion Papers 2993, Institute for the Study of Labor (IZA). [Downloadable!]
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    • Paola Manzini & Marco Mariotti, 2007. "Choice over Time," Working Papers 605, Queen Mary, University of London, Department of Economics. [Downloadable!]
  14. Arianna Degan & Antonio Merlo, 2007. "Do Voters Vote Ideologically?, Third Version," PIER Working Paper Archive 08-034, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Aug 2008. [Downloadable!]
  15. Ariel Rubinstein & Yuval Salant, 2007. "(A,f) Choice with Frames," Levine's Bibliography 843644000000000029, UCLA Department of Economics. [Downloadable!]
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