Two-stage threshold representations
We study two-stage choice procedures in which the decision maker first preselects the alternatives whose values according to a criterion pass a menu-dependent threshold, and then maximizes a second criterion to narrow the selection further. This framework overlaps with several existing models that have various interpretations and impose various additional restrictions on behavior. We show that the general class of procedures is characterized by acyclicity of the revealed "first-stage separation relation."
References listed on IDEAS
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- Tyson, Christopher J., 2008.
"Cognitive constraints, contraction consistency, and the satisficing criterion,"
Journal of Economic Theory,
Elsevier, vol. 138(1), pages 51-70, January.
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- Christopher J.Tyson, 2005. "Axiomatic Foundations for Satisficing Behavior," Economics Papers 2005-W03, Economics Group, Nuffield College, University of Oxford.
- Christopher J. Tyson, 2007. "Cognitive Constraints, Contraction Consistency, and the Satisficing Criterion," Working Papers 614, Queen Mary University of London, School of Economics and Finance.
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- Fuad Aleskerov & Denis Bouyssou & Bernard Monjardet, 2007. "Utility Maximization, Choice and Preference," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00197186, HAL. Full references (including those not matched with items on IDEAS)