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Rational choice by two sequential criteria

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  • García-Sanz, María D.
  • Alcantud, José Carlos R.

Abstract

This paper contributes to the theory of rational choice under multiple criteria. We perform a preliminary study of the properties of decision made by the sequential application of rational choices. This is then used to obtain a characterization of set-valued choice functions that are rational by two sequential criteria, which follows the approach initiated by Manzini and Mariotti (Amer. Econ. Rev., 2007) for single-valued choice functions. Uniqueness is not guaranteed but our proof is constructive and an explicit solution is provided in terms of approximation choice functions.

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File URL: http://mpra.ub.uni-muenchen.de/21487/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 21487.

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Date of creation: 16 Mar 2010
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Handle: RePEc:pra:mprapa:21487

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Keywords: Choice function; rational choice; compound function.;

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Cited by:
  1. Jose Apesteguia & Miguel Ballester, 2009. "Choice by Sequential Procedures," NajEcon Working Paper Reviews 814577000000000404, www.najecon.org.
  2. Rohan Dutta & Sean Horan, 2013. "Inferring Rationales from Choice : Identification for Rational Shortlist Methods," Cahiers de recherche 09-2013, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  3. Demuynck, Thomas, 2011. "The computational complexity of rationalizing boundedly rational choice behavior," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 425-433.

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