Rational choice by two sequential criteria
This paper contributes to the theory of rational choice under multiple criteria. We perform a preliminary study of the properties of decision made by the sequential application of rational choices. This is then used to obtain a characterization of set-valued choice functions that are rational by two sequential criteria, which follows the approach initiated by Manzini and Mariotti (Amer. Econ. Rev., 2007) for single-valued choice functions. Uniqueness is not guaranteed but our proof is constructive and an explicit solution is provided in terms of approximation choice functions.
|Date of creation:||16 Mar 2010|
|Date of revision:|
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Web page: https://mpra.ub.uni-muenchen.de
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