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Choosing on influence

Author

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  • Cuhadaroglu, Tugce

    () (School of Economics and Finance, University of St Andrews)

Abstract

Interaction, the act of mutual influence, is an essential part of daily life and economic decisions. This paper presents an individual decision procedure for interacting individuals. According to our model, individuals seek influence from each other for those issues that they cannot solve on their own. Following a choice-theoretic approach, we provide simple properties that aid to detect interacting individuals. Revealed preference analysis not only grants underlying preferences but also the influence acquired.

Suggested Citation

  • Cuhadaroglu, Tugce, 2017. "Choosing on influence," Theoretical Economics, Econometric Society, vol. 12(2), May.
  • Handle: RePEc:the:publsh:2170
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    File URL: http://econtheory.org/ojs/index.php/te/article/viewFile/20170477/17915/526
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    References listed on IDEAS

    as
    1. Rohan Dutta & Sean Horan, 2015. "Inferring Rationales from Choice: Identification for Rational Shortlist Methods," American Economic Journal: Microeconomics, American Economic Association, vol. 7(4), pages 179-201, November.
    2. Apesteguia, Jose & Ballester, Miguel A., 2013. "Choice by sequential procedures," Games and Economic Behavior, Elsevier, vol. 77(1), pages 90-99.
    3. Christopher Tyson, 2013. "Behavioral implications of shortlisting procedures," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 41(4), pages 941-963, October.
    4. Horan, Sean, 2016. "A simple model of two-stage choice," Journal of Economic Theory, Elsevier, vol. 162(C), pages 372-406.
    5. Au, Pak Hung & Kawai, Keiichi, 2011. "Sequentially rationalizable choice with transitive rationales," Games and Economic Behavior, Elsevier, vol. 73(2), pages 608-614.
    6. Sergio Currarini & Matthew O. Jackson & Paolo Pin, 2009. "An Economic Model of Friendship: Homophily, Minorities, and Segregation," Econometrica, Econometric Society, vol. 77(4), pages 1003-1045, July.
    7. Yıldız, Kemal, 2016. "List-rationalizable choice," Theoretical Economics, Econometric Society, vol. 11(2), May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Interaction; social influence; boundedly rational decision making; two stage maximization; incomplete preferences;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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