Two-stage threshold representations
AbstractWe study two-stage choice procedures in which the decision maker first preselects the alternatives whose values according to a criterion pass a menu-dependent threshold, and then maximizes a second criterion to narrow the selection further. This framework overlaps with several existing models that have various interpretations and impose various additional restrictions on behavior. We show that the general class of procedures is characterized by acyclicity of the revealed "first-stage separation relation."
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Bibliographic InfoArticle provided by Econometric Society in its journal Theoretical Economics.
Volume (Year): 8 (2013)
Issue (Month): 3 (September)
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Web page: http://econtheory.org
Attention; choice function; revealed preference; satisficing;
Find related papers by JEL classification:
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D03 - Microeconomics - - General - - - Behavioral Microeconomics; Underlying Principles
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
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- Yusufcan Masatlioglu & Daisuke Nakajima & Erkut Ozbay, 2009.
NajEcon Working Paper Reviews
- Christopher J.Tyson, 2005.
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- Christopher Tyson, 2005. "Axiomatic Foundations for Satisficing Behavior," Economics Series Working Papers 2005-W03, University of Oxford, Department of Economics.
- Tyson, Chris, 2001. "The Foundations of Imperfect Decision Making," Research Papers 1714, Stanford University, Graduate School of Business.
- Paola Manzini & Marco Mariotti, 2007. "Sequentially Rationalizable Choice," American Economic Review, American Economic Association, vol. 97(5), pages 1824-1839, December.
- Christopher J. Tyson, 2007. "Cognitive Constraints, Contraction Consistency, and the Satisficing Criterion," Working Papers 614, Queen Mary, University of London, School of Economics and Finance.
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