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List-rationalizable choice

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    (Department of Economics, Bilkent University)

Abstract

A choice function is \textit{list rational(izable)}, if there is a fixed \textit{list} such that for each \textit{choice set}, successive comparison of the alternatives by following the \textit{list} retrieves the chosen alternative. We extend the formulation of list rationality to stochastic choice setup. We say two alternatives are related if the \textit{stochastic path independence condition} is violated between these alternatives. We show that a random choice function is list rational if and only if this relation is acyclic. Our characterization for deterministic choice functions follows as a corollary. By using this characterization, we relate list rationality to two-stage choice procedures.

Suggested Citation

  • ,, 2016. "List-rationalizable choice," Theoretical Economics, Econometric Society, vol. 11(2), May.
    • Handle: RePEc:the:publsh:1298
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    Citations

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    Cited by:

    1. Horan, Sean, 2016. "A simple model of two-stage choice," Journal of Economic Theory, Elsevier, vol. 162(C), pages 372-406.
    2. Dimitrov, Dinko & Mukherjee, Saptarshi & Muto, Nozomu & 無藤, 望, 2013. "List-based decision problems," Discussion Papers 2013-02, Graduate School of Economics, Hitotsubashi University.
    3. Paola Manzini & Marco Mariotti, 2014. "Stochastic Choice and Consideration Sets," Econometrica, Econometric Society, vol. 82(3), pages 1153-1176, May.
    4. Wang, Kai, 2022. "Approval with frames," Journal of Mathematical Economics, Elsevier, vol. 103(C).
    5. Apesteguia, Jose & Ballester, Miguel A. & Masatlioglu, Yusufcan, 2014. "A foundation for strategic agenda voting," Games and Economic Behavior, Elsevier, vol. 87(C), pages 91-99.
    6. Nosratabadi, Hassan, 2024. "Rational Shortlist Method with refined rationales," Mathematical Social Sciences, Elsevier, vol. 127(C), pages 12-18.
    7. Giarlotta, Alfio & Petralia, Angelo & Watson, Stephen, 2022. "Bounded rationality is rare," Journal of Economic Theory, Elsevier, vol. 204(C).
    8. Gent Bajraj & Levent Ülkü, 2015. "Choosing two finalists and the winner," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(4), pages 729-744, December.
    9. Bhattacharya, Mihir & Mukherjee, Saptarshi & Sonal, Ruhi, 2021. "Frame-based stochastic choice rule," Journal of Mathematical Economics, Elsevier, vol. 97(C).
    10. Dinko Dimitrov & Saptarshi Mukherjee & Nozomu Muto, 2016. "‘Divide-and-choose’ in list-based decision problems," Theory and Decision, Springer, vol. 81(1), pages 17-31, June.
    11. Xiaosheng Mu, 2021. "Sequential Choice with Incomplete Preferences," Working Papers 2021-35, Princeton University. Economics Department..
    12. Geng, Sen & Özbay, Erkut Y., 2021. "Shortlisting procedure with a limited capacity," Journal of Mathematical Economics, Elsevier, vol. 94(C).
    13. Alfio Giarlotta & Angelo Petralia & Stephen Watson, 2022. "On the number of non-isomorphic choices on four elements," Papers 2206.06840, arXiv.org.
    14. Paola Manzini & Marco Mariotti, 2014. "Stochastic Choice and Consideration Sets," Econometrica, Econometric Society, vol. 82(3), pages 1153-1176, May.
    15. Koshevoy, Gleb & Savaglio, Ernesto, 2023. "On rational choice from lists of sets," Journal of Mathematical Economics, Elsevier, vol. 109(C).
    16. Mihir Bhattacharya & Saptarshi Mukherjee & Ruhi Sonal, 2019. "Attention and Framing," Working Papers 18, Ashoka University, Department of Economics.
    17. Yegane, Ece, 2022. "Stochastic choice with limited memory," Journal of Economic Theory, Elsevier, vol. 205(C).
    18. García-Sanz, María D. & Alcantud, José Carlos R., 2015. "Sequential rationalization of multivalued choice," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 29-33.
    19. Xiaosheng Mu, 2019. "Amendment Voting with Incomplete Preferences," Working Papers 2019-29, Princeton University. Economics Department..
    20. Davide Carpentiere & Angelo Petralia, 2023. "Identification of consideration sets from choice data," Papers 2302.00978, arXiv.org, revised Mar 2024.
    21. Gleb Koshevoy & Ernesto Savaglio, 2017. "Enveloped choice functions and path-independent rationality," Department of Economics University of Siena 765, Department of Economics, University of Siena.
    22. Alfio Giarlotta & Angelo Petralia & Stephen Watson, 2022. "Semantics meets attractiveness: Choice by salience," Papers 2204.08798, arXiv.org, revised Aug 2022.
    23. Manzini, Paola & Mariotti, Marco & Ülkü, Levent, 2024. "A model of approval with an application to list design," Journal of Economic Theory, Elsevier, vol. 217(C).
    24. Cuhadaroglu, Tugce, 2017. "Choosing on influence," Theoretical Economics, Econometric Society, vol. 12(2), May.
    25. Gerelt Tserenjigmid, 2021. "The Order-Dependent Luce Model," Management Science, INFORMS, vol. 67(11), pages 6915-6933, November.

    More about this item

    Keywords

    Rationalization; list; choice functions; random choice; path independence; acyclicity;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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