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Rational choice by two sequential criteria

Author

Listed:
  • García-Sanz, María D.
  • Alcantud, José Carlos R.

Abstract

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.

Suggested Citation

  • García-Sanz, María D. & Alcantud, José Carlos R., 2010. "Rational choice by two sequential criteria," MPRA Paper 21487, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:21487
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    File URL: https://mpra.ub.uni-muenchen.de/21487/1/MPRA_paper_21487.pdf
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    Cited by:

    1. Au, Pak Hung & Kawai, Keiichi, 2011. "Sequentially rationalizable choice with transitive rationales," Games and Economic Behavior, Elsevier, vol. 73(2), pages 608-614.
    2. Apesteguia, Jose & Ballester, Miguel A., 2013. "Choice by sequential procedures," Games and Economic Behavior, Elsevier, vol. 77(1), pages 90-99.
    3. Demuynck, Thomas, 2011. "The computational complexity of rationalizing boundedly rational choice behavior," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 425-433.
    4. 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.

    More about this item

    Keywords

    Choice function; rational choice; compound function.;

    JEL classification:

    • D00 - Microeconomics - - General - - - General

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