IDEAS home Printed from https://ideas.repec.org/a/eee/matsoc/v127y2024icp12-18.html
   My bibliography  Save this article

Rational Shortlist Method with refined rationales

Author

Listed:
  • Nosratabadi, Hassan

Abstract

We study a shortlisting model of choice where a decision-maker first applies her inherent rationale and then follows with a sequence of refined rationales that are triggered by inferior alternatives in a menu. Our decision-maker exhausts all the possible paths of sequential filtering. This model captures choice anomalies in multi-attribute choice space where shortlisting seems to be a natural heuristic, and where existing literature comes short.

Suggested Citation

  • Nosratabadi, Hassan, 2024. "Rational Shortlist Method with refined rationales," Mathematical Social Sciences, Elsevier, vol. 127(C), pages 12-18.
    • Handle: RePEc:eee:matsoc:v:127:y:2024:i:c:p:12-18
    DOI: 10.1016/j.mathsocsci.2023.10.003
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0165489623000859
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.mathsocsci.2023.10.003?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. , & ,, 2012. "Choice by lexicographic semiorders," Theoretical Economics, Econometric Society, vol. 7(1), January.
    2. Horan, Sean, 2016. "A simple model of two-stage choice," Journal of Economic Theory, Elsevier, vol. 162(C), pages 372-406.
    3. , & ,, 2012. "Reason-based choice: a bargaining rationale for the attraction and compromise effects," Theoretical Economics, Econometric Society, vol. 7(1), January.
    4. Au, Pak Hung & Kawai, Keiichi, 2011. "Sequentially rationalizable choice with transitive rationales," Games and Economic Behavior, Elsevier, vol. 73(2), pages 608-614.
    5. Nosratabadi, Hassan, 2022. "Reference-dependent choice under plurality rule," Mathematical Social Sciences, Elsevier, vol. 115(C), pages 88-98.
    6. Nicolas Houy, 2008. "Progressive knowledge revealed preferences and sequential rationalizability," Working Papers hal-00360546, HAL.
    7. Ariely, Dan & Wallsten, Thomas S., 1995. "Seeking Subjective Dominance in Multidimensional Space: An Explanation of the Asymmetric Dominance Effect," Organizational Behavior and Human Decision Processes, Elsevier, vol. 63(3), pages 223-232, September.
    8. Pettibone, Jonathan C. & Wedell, Douglas H., 2000. "Examining Models of Nondominated Decoy Effects across Judgment and Choice," Organizational Behavior and Human Decision Processes, Elsevier, vol. 81(2), pages 300-328, March.
    9. Georgios Gerasimou, 2016. "Partially dominant choice," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 61(1), pages 127-145, January.
    10. Huber, Joel & Puto, Christopher, 1983. "Market Boundaries and Product Choice: Illustrating Attraction and Substitution Effects," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 10(1), pages 31-44, June.
    11. Lombardi, Michele, 2009. "Reason-based choice correspondences," Mathematical Social Sciences, Elsevier, vol. 57(1), pages 58-66, January.
    12. Paola Manzini & Marco Mariotti, 2007. "Sequentially Rationalizable Choice," American Economic Review, American Economic Association, vol. 97(5), pages 1824-1839, December.
    13. Mert Kimya, 2018. "Choice, Consideration Sets, and Attribute Filters," American Economic Journal: Microeconomics, American Economic Association, vol. 10(4), pages 223-247, November.
    14. ,, 2016. "List-rationalizable choice," Theoretical Economics, Econometric Society, vol. 11(2), May.
    15. Efe A. Ok & Pietro Ortoleva & Gil Riella, 2015. "Revealed (P)Reference Theory," American Economic Review, American Economic Association, vol. 105(1), pages 299-321, January.
    16. Huber, Joel & Payne, John W & Puto, Christopher, 1982. "Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 9(1), pages 90-98, June.
    17. Jun Matsuki & Koichi Tadenuma, 2018. "Choice via grouping procedures," International Journal of Economic Theory, The International Society for Economic Theory, vol. 14(1), pages 71-84, March.
    18. Eliaz, Kfir & Ok, Efe A., 2006. "Indifference or indecisiveness? Choice-theoretic foundations of incomplete preferences," Games and Economic Behavior, Elsevier, vol. 56(1), pages 61-86, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nosratabadi, Hassan, 2022. "Reference-dependent choice under plurality rule," Mathematical Social Sciences, Elsevier, vol. 115(C), pages 88-98.
    2. Özgür Kıbrıs & Yusufcan Masatlioglu & Elchin Suleymanov, 2023. "A theory of reference point formation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(1), pages 137-166, January.
    3. Georgios Gerasimou, 2016. "Partially dominant choice," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 61(1), pages 127-145, January.
    4. Tserenjigmid, Gerelt, 2019. "Choosing with the worst in mind: A reference-dependent model," Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 631-652.
    5. Horan, Sean, 2016. "A simple model of two-stage choice," Journal of Economic Theory, Elsevier, vol. 162(C), pages 372-406.
    6. Castillo, Geoffrey, 2020. "The attraction effect and its explanations," Games and Economic Behavior, Elsevier, vol. 119(C), pages 123-147.
    7. Maltz, Amnon & Rachmilevitch, Shiran, 2021. "A model of menu-dependent evaluations and comparison-aversion," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 91(C).
    8. Yukinori Iwata, 2018. "Salience and limited attention," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 50(1), pages 123-146, January.
    9. Bleile, Jörg, 2016. "Limited Attention in Case-Based Belief Formation," Center for Mathematical Economics Working Papers 518, Center for Mathematical Economics, Bielefeld University.
    10. Heydari, Pedram, 2021. "Luce arbitrates: Stochastic resolution of inner conflicts," Games and Economic Behavior, Elsevier, vol. 126(C), pages 33-74.
    11. Hassan Nosratabadi, 2017. "Referential Revealed Preference Theory," Departmental Working Papers 201707, Rutgers University, Department of Economics.
    12. Bhavook Bhardwaj & Kriti Manocha, 2021. "Choice by Rejection," Papers 2108.07424, arXiv.org.
    13. Geng, Sen & Özbay, Erkut Y., 2021. "Shortlisting procedure with a limited capacity," Journal of Mathematical Economics, Elsevier, vol. 94(C).
    14. Georgios, Gerasimou, 2013. "A Behavioural Model of Choice in the Presence of Decision Conflict," SIRE Discussion Papers 2013-25, Scottish Institute for Research in Economics (SIRE).
    15. Georgios Gerasimou, 2016. "Asymmetric dominance, deferral, and status quo bias in a behavioral model of choice," Theory and Decision, Springer, vol. 80(2), pages 295-312, February.
    16. Fabio Galeotti & Maria Montero & Anders Poulsen, 2022. "The Attraction and Compromise Effects in Bargaining: Experimental Evidence," Management Science, INFORMS, vol. 68(4), pages 2987-3007, April.
    17. Ronayne, David & Brown, Gordon D.A., 2016. "Multi-attribute decision by sampling: An account of the attraction, comprimise and similarity effects," The Warwick Economics Research Paper Series (TWERPS) 1124, University of Warwick, Department of Economics.
    18. Qin, Dan, 2024. "A simple model of two-stage choice," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    19. Guevara, C. Angelo & Fukushi, Mitsuyoshi, 2016. "Modeling the decoy effect with context-RUM Models: Diagrammatic analysis and empirical evidence from route choice SP and mode choice RP case studies," Transportation Research Part B: Methodological, Elsevier, vol. 93(PA), pages 318-337.
    20. David M. Ramsey, 2020. "A Game Theoretic Model of Choosing a Valuable Good via a Short List Heuristic," Mathematics, MDPI, vol. 8(2), pages 1-20, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:matsoc:v:127:y:2024:i:c:p:12-18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505565 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.