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(A, f): Choice with Frames -super-1

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  • Yuval Salant
  • Ariel Rubinstein

Abstract

We develop a framework for modelling choice in the presence of framing effects. An extended choice function assigns a chosen element to every pair (A, f) where A is a set of alternatives, and f is a frame. A frame includes observable information that is irrelevant in the rational assessment of the alternatives, but nonetheless affects choice. We relate the new framework to the classical model of choice correspondence. Conditions are identified under which there exists either a transitive or a transitive and complete binary relation R such that an alternative x is chosen in some (A, f) iff x is R-maximal in the set A. We then demonstrate that the framework of choice correspondence misses information, which is essential to economic modelling, and which is incorporated in the extended choice function. Copyright 2008, Wiley-Blackwell.

Suggested Citation

  • Yuval Salant & Ariel Rubinstein, 2008. "(A, f): Choice with Frames -super-1," Review of Economic Studies, Oxford University Press, vol. 75(4), pages 1287-1296.
  • Handle: RePEc:oup:restud:v:75:y:2008:i:4:p:1287-1296
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    File URL: http://hdl.handle.net/10.1111/j.1467-937X.2008.00510.x
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