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A model of choice from lists

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Author Info
Rubinstein, Ariel () (Tel Aviv University and New York University)
Salant, Yuval () (Stanford University)
Abstract

The standard economic choice model assumes that the decision maker chooses from sets of alternatives. In contrast, we analyze a choice model in which the decision maker encounters the alternatives in the form of a list. We present two axioms similar in nature to the classical axioms of choice from sets. We show that they characterize all the choice functions from lists that involve the choice of either the first or the last optimal alternative in the list according to some preference relation. We then relate choice functions from lists to the classical notions of choice correspondences and random choice functions.

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File URL: http://econtheory.org/ojs/index.php/te/article/view/20060003/7
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Publisher Info
Article provided by Society for Economic Theory in its journal Theoretical Economics.

Volume (Year): 1 (2006)
Issue (Month): 1 (March)
Pages: 3-17
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:the:publsh:164

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Web page: http://econtheory.org

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Related research
Keywords: Choice from lists; rational choice; partition independence; weak axiom of revealed preference; satisficing;

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Find related papers by JEL classification:
D00 - Microeconomics - - General - - - General

Cited by:
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  1. Takashi Hayashi, 2008. "Context dependence and consistency in dynamic choice under uncertainty: the case of anticipated regret," KIER Working Papers 659, Kyoto University, Institute of Economic Research. [Downloadable!]
  2. Ariel Rubinstein & Yuval Salant, 2006. "Two Comments on the Principle of Revealed Preference," Levine's Bibliography 321307000000000272, UCLA Department of Economics. [Downloadable!]
  3. Jose Apesteguia & Miguel A. Ballester, 2008. "A Characterization of Sequential Rationalizability," Economics Working Papers 1089, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
  4. 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!]
    Other versions:
  5. B. Douglas Bernheim & Antonio Rangel, 2008. "Beyond Revealed Preference: Choice Theoretic Foundations for Behavioral Welfare Economics," NBER Working Papers 13737, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Nejat Anbarci & Ching-jen Sun, 2009. "Robustness of Intermediate Agreements and Bargaining Solutions," Economics Series 2009_14, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance. [Downloadable!]
  7. Chambers, Christopher P. & Hayashi, Takashi, 2008. "Choice and individual welfare," Working Papers 1286, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  8. Ariel Rubinstein & Yuval Salant, 2007. "(A,f) Choice with Frames," Levine's Bibliography 843644000000000029, UCLA Department of Economics. [Downloadable!]
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