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Uncovered Set Choice Rule

Author

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  • Michele Lombardi

    (Queen Mary, University of London)

Abstract

I study necessary and sufficient conditions for a choice function to be rationalised in the following sense: there exists a complete asymmetric relation T (a tournament ) such that for each feasible (finite) choice situation, the choice coincides with the uncovered set of T . This notion of rationality explains not only cyclical and context dependent choices observed in practice, but also provides testable restrictions on observable choice behavior.

Suggested Citation

  • Michele Lombardi, 2006. "Uncovered Set Choice Rule," Working Papers 563, Queen Mary University of London, School of Economics and Finance.
  • Handle: RePEc:qmw:qmwecw:wp563
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    File URL: http://www.econ.qmul.ac.uk/media/econ/research/workingpapers/archive/wp563.pdf
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    References listed on IDEAS

    as
    1. Paola Manzini & Marco Mariotti, 2006. "Two-stage Boundedly Rational Choice Procedures: Theory and Experimental Evidence," Working Papers 561, Queen Mary University of London, School of Economics and Finance.
    2. José Apesteguía & Miguel A. Ballester, 2005. "Minimal Books Of Rationales," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0501, Departamento de Economía - Universidad Pública de Navarra.
    3. Gil Kalai & Ariel Rubinstein & Ran Spiegler, 2002. "Rationalizing Choice Functions By Multiple Rationales," Econometrica, Econometric Society, vol. 70(6), pages 2481-2488, November.
    4. Paola Manzini & Marco Mariotti, 2005. "Shortlisting," Public Economics 0503006, EconWPA, revised 23 Mar 2006.
    5. Dutta, Bhaskar, 1988. "Covering sets and a new condorcet choice correspondence," Journal of Economic Theory, Elsevier, vol. 44(1), pages 63-80, February.
    6. Paola Manzini & Marco Mariotti, 2004. "Rationalizing Boundedly Rational Choice," Microeconomics 0407005, EconWPA, revised 21 Dec 2005.
    7. Ehlers, Lars & Sprumont, Yves, 2008. "Weakened WARP and top-cycle choice rules," Journal of Mathematical Economics, Elsevier, vol. 44(1), pages 87-94, January.
    8. Paola Manzini & Marco Mariotti, 2007. "Sequentially Rationalizable Choice," American Economic Review, American Economic Association, vol. 97(5), pages 1824-1839, December.
    9. Fishburn, Peter C, 1991. "Nontransitive Preferences in Decision Theory," Journal of Risk and Uncertainty, Springer, vol. 4(2), pages 113-134, April.
    10. Zhang, Jiao & Hsee, Christopher K. & Xiao, Zhixing, 2006. "The majority rule in individual decision making," Organizational Behavior and Human Decision Processes, Elsevier, vol. 99(1), pages 102-111, January.
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    Citations

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    Cited by:

    1. Mariotti, Marco & Manzini, Paola, 2012. "Choice by lexicographic semiorders," Theoretical Economics, Econometric Society, vol. 7(1), January.
    2. Michele Lombardi, 2009. "Minimal covering set solutions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 32(4), pages 687-695, May.
    3. Pinger, Pia & Ruhmer-Krell, Isabel & Schumacher, Heiner, 2016. "The compromise effect in action: Lessons from a restaurant's menu," Journal of Economic Behavior & Organization, Elsevier, vol. 128(C), pages 14-34.
    4. Nicolas Houy, 2011. "Common characterizations of the untrapped set and the top cycle," Theory and Decision, Springer, vol. 70(4), pages 501-509, April.
    5. Lombardi, Michele, 2009. "Reason-based choice correspondences," Mathematical Social Sciences, Elsevier, vol. 57(1), pages 58-66, January.
    6. Ehlers, Lars & Sprumont, Yves, 2008. "Weakened WARP and top-cycle choice rules," Journal of Mathematical Economics, Elsevier, vol. 44(1), pages 87-94, January.
    7. Michele Lombardi & Marco Mariotti, 2009. "Uncovered bargaining solutions," International Journal of Game Theory, Springer;Game Theory Society, vol. 38(4), pages 601-610, November.

    More about this item

    Keywords

    Rationalizability; Uncovered set; Intransitive choice;

    JEL classification:

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

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