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A model of choice from lists

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  • 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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Bibliographic Info

Article provided by Econometric Society in its journal Theoretical Economics.

Volume (Year): 1 (2006)
Issue (Month): 1 (March)
Pages: 3-17

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Handle: RePEc:the:publsh:164

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Related research

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

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Cited by:
  1. Papi, Mauro, 2012. "Satisficing choice procedures," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 451-462.
  2. Dinko Dimitrov & Saptarshi Mukherjee & Nozomu Muto, 2013. "List-based decision problems," UFAE and IAE Working Papers 927.13, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  3. Gent Bajraj & Levent Ülkü, 2013. "Choosing two Finalists and the Winner," Working Papers 1305, Centro de Investigacion Economica, ITAM.
  4. Nejat Anbarci & Ching-jen Sun, 2012. "Robustness of Intermediate Agreements and Bargaining Solutions," Economics Series 2012_7, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  5. Ariel Rubinstein & Yuval Salant, 2007. "(A,f) Choice with Frames," Levine's Bibliography 843644000000000029, UCLA Department of Economics.
  6. Douglas Bernheim & Antonio Rangel, 2007. "Beyond Revealed Preference Choice Theoretic Foundations for Behavioral Welfare Economics," Discussion Papers 07-031, Stanford Institute for Economic Policy Research.
  7. Manzini, Paola & Mariotti, Marco & Tyson, Christopher J., 2011. "Manipulation of Choice Behavior," IZA Discussion Papers 5891, Institute for the Study of Labor (IZA).
  8. Özgür Kıbrıs, 2012. "A revealed preference analysis of solutions to simple allocation problems," Theory and Decision, Springer, vol. 72(4), pages 509-523, April.
  9. Michael Mandler & Paola Manzini & Marco Mariotti, 2008. "A Million Answers to Twenty Questions: Choosing by Checklist," Working Papers 622, Queen Mary, University of London, School of Economics and Finance.
  10. Shmuel Nitzan & Kobi Kriesler, 2010. "The Effect of Limited Search Ability on the Quality of Competitive Rent-Seeking Clubs," Working Papers 2010-06, Department of Economics, Bar-Ilan University.
  11. Papi, Mauro, 2013. "Satisficing and maximizing consumers in a monopolistic screening model," Mathematical Social Sciences, Elsevier, vol. 66(3), pages 385-389.
  12. Takashi Hayashi, 2011. "Context dependence and consistency in dynamic choice under uncertainty: the case of anticipated regret," Theory and Decision, Springer, vol. 70(4), pages 399-430, April.
  13. Jose Apesteguia & Miguel A. Ballester, 2008. "A Characterization of Sequential Rationalizability," Working Papers 345, Barcelona Graduate School of Economics.
  14. 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.
  15. Andrew Caplin & Mark Dean & Daniel Martin, 2011. "Search and Satisficing," American Economic Review, American Economic Association, vol. 101(7), pages 2899-2922, December.
  16. Ariel Rubinstein & Yuval Salant, 2006. "Two Comments on the Principle of Revealed Preference," Levine's Bibliography 321307000000000272, UCLA Department of Economics.

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