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Choosing two finalists and the winner

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  • Gent Bajraj
  • Levent Ülkü

Abstract

We study a class of boundedly rational choice functions which operate as follows. The decision maker uses two criteria in two stages to make a choice. First, she shortlists the top two alternatives, i.e. two finalists, according to one criterion. Next, she chooses the winner in this binary shortlist using the second criterion. The criteria are linear orders that rank the alternatives. Only the winner is observable. We study the behavior exhibited by this choice procedure and provide an axiomatic characterization of it. We leave as an open question the characterization of a generalization to larger shortlists. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Gent Bajraj & Levent Ülkü, 2015. "Choosing two finalists and the winner," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(4), pages 729-744, December.
    • Handle: RePEc:spr:sochwe:v:45:y:2015:i:4:p:729-744
    DOI: 10.1007/s00355-015-0878-3
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    References listed on IDEAS

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    1. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
    2. Rohan Dutta & Sean Horan, 2015. "Inferring Rationales from Choice: Identification for Rational Shortlist Methods," American Economic Journal: Microeconomics, American Economic Association, vol. 7(4), pages 179-201, November.
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    8. Kfir Eliaz & Michael Richter & Ariel Rubinstein, 2011. "Choosing the two finalists," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(2), pages 211-219, February.
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    Cited by:

    1. Horan, Sean, 2016. "A simple model of two-stage choice," Journal of Economic Theory, Elsevier, vol. 162(C), pages 372-406.
    2. Payró, Fernando & Ülkü, Levent, 2015. "Similarity-based mistakes in choice," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 152-156.
    3. Manzini, Paola & Mariotti, Marco & Tyson, Christopher J., 2016. "Partial knowledge restrictions on the two-stage threshold model of choice," Journal of Mathematical Economics, Elsevier, vol. 64(C), pages 41-47.
    4. Geng, Sen & Özbay, Erkut Y., 2021. "Shortlisting procedure with a limited capacity," Journal of Mathematical Economics, Elsevier, vol. 94(C).
    5. Tugce Cuhadaroglu, 2015. "Choosing on Influence," Discussion Paper Series, School of Economics and Finance 201504, School of Economics and Finance, University of St Andrews.
    6. Mario Vazquez Corte, 2020. "A Model of Choice with Minimal Compromise," Papers 2010.08771, arXiv.org, revised Oct 2020.
    7. Ahumada, Alonso & Ülkü, Levent, 2018. "Luce rule with limited consideration," Mathematical Social Sciences, Elsevier, vol. 93(C), pages 52-56.
    8. Karpov, Alexander, 2015. "A theory of knockout tournament seedings," Working Papers 0600, University of Heidelberg, Department of Economics.
    9. Lleras, Juan Sebastián & Masatlioglu, Yusufcan & Nakajima, Daisuke & Ozbay, Erkut Y., 2017. "When more is less: Limited consideration," Journal of Economic Theory, Elsevier, vol. 170(C), pages 70-85.
    10. Geng, Sen, 2022. "Limited consideration model with a trigger or a capacity," Journal of Mathematical Economics, Elsevier, vol. 101(C).
    11. Kovach, Matthew & Ülkü, Levent, 2020. "Satisficing with a variable threshold," Journal of Mathematical Economics, Elsevier, vol. 87(C), pages 67-76.
    12. Cuhadaroglu, Tugce, 2015. "Choosing on Influence," SIRE Discussion Papers 2015-59, Scottish Institute for Research in Economics (SIRE).

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    • D0 - Microeconomics - - General

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