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Path-Independent Consideration

Author

Listed:
  • Juan Lleras

    (Independent Researcher, Washington, DC 20015, USA)

  • Yusufcan Masatlioglu

    (Department of Economics, University of Maryland, College Park, MD 20742, USA)

  • Daisuke Nakajima

    (Department of Economics, Otaru University of Commerce, Otaru 047-8501, Japan)

  • Erkut Ozbay

    (Department of Economics, University of Maryland, College Park, MD 20742, USA)

Abstract

In the context of choice with limited consideration, where the decision-maker may not pay attention to all available options, the consideration function of a decision maker is path-independent if her choice cannot be manipulated by the presentation of the choice set. This paper characterizes a model of choice with limited consideration with path independence, which is equivalent to a consideration function that satisfies both the attention filter and consideration filter properties from Masatlioglu et al. (2012) and Lleras et al. (2017), respectively. Despite the equivalence of path-independent consideration with the consideration structures from these two papers, we show that, to have a choice with limited consideration that is path-independent, satisfying both axioms on the choice function that characterize choice limited consideration with attention and consideration filters unilaterally (from Masatlioglu et al. (2012) and Lleras et al. (2017)) is necessary but not sufficient.

Suggested Citation

  • Juan Lleras & Yusufcan Masatlioglu & Daisuke Nakajima & Erkut Ozbay, 2021. "Path-Independent Consideration," Games, MDPI, vol. 12(1), pages 1-10, March.
    • Handle: RePEc:gam:jgames:v:12:y:2021:i:1:p:21-:d:508570
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    References listed on IDEAS

    as
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