IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

A Behavioural Model of Choice in the Presence of Decision Conflict

  • Georgios Gerasimou

    ()

This paper proposes a model of choice that does not assume completeness of the decision maker's preferences. The model explains in a natural way, and within a uni ed framework of choice when preference-incomparable options are present, four behavioural phenomena: the attraction eff ect, choice deferral, the strengthening of the attraction eff ect when deferral is permissible, and status quo bias. The key element in the proposed decision rule is that an individual chooses an alternative from a menu if it is worse than no other alternative in that menu and is also better than at least one. Utility-maximising behaviour is included as a special case when preferences are complete. The relevance of the partial dominance idea underlying the proposed choice procedure is illustrated with an intuitive generalisation of weakly dominated strategies and their iterated deletion in games with vector payo ffs.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.st-andrews.ac.uk/economics/repecfiles/4/1302.pdf
Download Restriction: no

Paper provided by Department of Economics, University of St. Andrews in its series Discussion Paper Series, Department of Economics with number 201302.

as
in new window

Length:
Date of creation: 05 Jan 2013
Date of revision:
Handle: RePEc:san:wpecon:1302
Contact details of provider: Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL
Phone: 01334 462420
Fax: 01334 462444
Web page: http://www.st-andrews.ac.uk/economics/

More information through EDIRC

Order Information: Email:


References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Anonymous, 2008. "Cover and Contents Pages," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(01), April.
  2. Editors, 2008. "Software updates," Stata Journal, StataCorp LP, vol. 8(1), pages 146, February.
  3. Anonymous, 2008. "Front Materials," Studies in Agricultural Economics, Research Institute for Agricultural Economics, issue 107, March.
  4. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(9), pages iv-vi, September.
  5. Christopher J.Tyson, 2005. "Axiomatic Foundations for Satisficing Behavior," Economics Papers 2005-W03, Economics Group, Nuffield College, University of Oxford.
  6. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(10), pages iv-vi, October.
  7. Anonymous, 2008. "Front Materials," Western Economics Forum, Western Agricultural Economics Association, vol. 7(01).
  8. (Various), 2008. "Book Reviews," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 173-179.
  9. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(7), pages iv-vi, July.
  10. Siegfried Heiler & Wolfgang Polasek & Christian Kleiber & Gerd Ronning, 2001. "Book reviews," Statistical Papers, Springer, vol. 42(2), pages 274-278, April.
    • D. Morgenstern & W. Grossmann & W. Polasek & G. Feichtinger & G. Pflug & A. Kalliauer & J. Gordesch, 1980. "Book reviews," Metrika, Springer, vol. 27(1), pages 140-143, December.
    • Götz Trenkler & Christian Kleiber & Peter Hackl & Ricardo Maronna, 2002. "Book reviews," Statistical Papers, Springer, vol. 43(3), pages 459-462, July.
    • Ricardo Maronna & Christian Kleiber & Olaf Schoffer, 2004. "Book reviews," Statistical Papers, Springer, vol. 45(2), pages 303-307, April.
    • Wolfgang Polasek & Uwe Ligges & Karsten Luebke, 2007. "Book reviews," Statistical Papers, Springer, vol. 48(4), pages 697-701, October.
    • Gabriele Widmann & Peter Hackl & Ricardo Maronna & Christian Kleiber, 2002. "Book reviews," Statistical Papers, Springer, vol. 43(2), pages 303-306, April.
    • Ricardo Maronna & Roland Schultze & Christian Kleiber, 2005. "Book reviews," Statistical Papers, Springer, vol. 46(3), pages 473-476, July.
    • Christian Kleiber & Gabriele Widmann & Walter Krämer & Christian Kleiber, 2001. "Book reviews," Statistical Papers, Springer, vol. 42(4), pages 537-541, October.
    • Christian Kleiber & Ricardo Maronna & Hans Daduna, 2003. "Book reviews," Statistical Papers, Springer, vol. 44(3), pages 447-450, July.
    • Ricardo Maronna & Peter Hackl & Christian Kleiber, 2004. "Book reviews," Statistical Papers, Springer, vol. 45(4), pages 591-593, October.
    • Ricardo Maronna & Karsten Webel & Christian Kleiber, 2005. "Book reviews," Statistical Papers, Springer, vol. 46(1), pages 147-152, January.
    • Ricardo Maronna & Christian Kleiber & Olaf Schoffer, 2005. "Book reviews," Statistical Papers, Springer, vol. 46(2), pages 313-317, April.
    • R. Dutter & Ch. Mandl & W. Polasek & J. Gordesch, 1982. "Book reviews," Metrika, Springer, vol. 29(1), pages 141-142, December.
    • Shalabh & W. Polasek, 2008. "Book reviews," Statistical Papers, Springer, vol. 49(1), pages 147-149, March.
    • Christian Kleiber & Heinz Skala & Götz Trenkler, 2003. "Book reviews," Statistical Papers, Springer, vol. 44(2), pages 293-296, April.
    • A. Rapoport & J. Pfanzagl & W. Wefelmeyer & W. Polasek, 1983. "Book reviews," Metrika, Springer, vol. 30(1), pages 142-144, December.
    • Wolfgang Polasek & W. Urfer & B. Golam Kibria, 2007. "Book reviews," Statistical Papers, Springer, vol. 48(3), pages 535-538, September.
    • Jürgen Groβ & Olaf Schoffer & Christian Kleiber, 2002. "Book reviews," Statistical Papers, Springer, vol. 43(4), pages 607-609, October.
  11. אסתר טולדנו, 2008. "מקבלי דמי אבטלה בשנת 2007," Working Papers 574, National Insurance Institute of Israel.
  12. de Clippel, Geoffroy & Eliaz, Kfir, 2012. "Reason-based choice: a bargaining rationale for the attraction and compromise effects," Theoretical Economics, Econometric Society, vol. 7(1), January.
  13. Greenleaf, Eric A & Lehmann, Donald R, 1995. " Reasons for Substantial Delay in Consumer Decision Making," Journal of Consumer Research, University of Chicago Press, vol. 22(2), pages 186-99, September.
  14. Anonymous, 2008. "Cover and Contents," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(1), June.
  15. Bauer Daniel & Börger Matthias & Ruß Jochen & Zwiesler Hans-Joachim, 2008. "The Volatility of Mortality," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 3(1), pages 1-29, September.
  16. Anonymous, 2008. "Cover and Contents Pages," Proceedings: 2007 Agricultural and Rural Finance Markets in Transition, October 4-5, 2007, St. Louis, Missouri 48149, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
  17. Anonymous, 2008. "Abstracts of Ph.D. Theses," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(2), December.
  18. Rubin Daniel B. & van der Laan Mark J., 2008. "Rejoinder to Tan," The International Journal of Biostatistics, De Gruyter, vol. 4(1), pages 1-1, July.
  19. Anonymous, 2008. "Signaling in the Qin Dynasty," Journal of Political Economy, University of Chicago Press, vol. 116(1), pages BackCover-B, 02.
  20. Ortoleva, Pietro, 2008. "Status Quo Bias, Multiple Priors and Uncertainty Aversion," MPRA Paper 12243, University Library of Munich, Germany.
  21. Anonymous, 2008. "Cover and Contents Pages," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(2), October.
  22. Anonymous, 2008. "Cover and Contents," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), December.
  23. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(11), pages iv-vi, November.
  24. Richard Pomfret & Patricia Sourdin, 2010. "Why do trade costs vary?," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 146(4), pages 709-730, December.
  25. Anonymous, 2008. "Front Materials," Environmental and Rural Development Impacts Conference, October 15-16, 2008, St. Louis, Missouri 53489, Farm Foundation, Transition to a Bio Economy Conferences.
  26. Anonymous, 2008. "Front Materials," Studies in Agricultural Economics, Research Institute for Agricultural Economics, issue 108, July.
  27. Editors, 2008. "Software updates," Stata Journal, StataCorp LP, vol. 8(3), pages 452, September.
  28. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(12), pages iv-vi, December.
  29. Anonymous, 2008. "Book Review," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(1), June.
  30. Michael Mandler, 2004. "Status quo maintenance reconsidered: changing or incomplete preferences?," Economic Journal, Royal Economic Society, vol. 114(499), pages F518-F535, November.
  31. Samuelson, William & Zeckhauser, Richard, 1988. " Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
  32. מחקר - ביטוח לאומי, 2008. "גיליון מספר 2," Working Papers 67, National Insurance Institute of Israel.
  33. Anonymous, 2008. "End Materials," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(2), December.
  34. Anonymous, 2008. "End Materials," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(2), October.
  35. OECD & Nuclear Energy Agency, 2008. "Case Law," Nuclear Law Bulletin, OECD Publishing, vol. 2008(1), pages 99-101.
  36. anonymous, 2008. "Focus on Authors," Marketing Science, INFORMS, vol. 27(2), pages 308-311, 03-04.
  37. Editors, 2008. "Software updates," Stata Journal, StataCorp LP, vol. 8(4), pages 594, December.
  38. OECD & Nuclear Energy Agency, 2008. "Notes sommaires," Bulletin de droit nucléaire, OECD Publishing, vol. 2008(2), pages 29-31.
  39. Anonymous, 2008. "End Materials," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), December.
  40. Anonymous, 2008. "End Materials," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(1), June.
  41. anonymous, 2008. "Focus on Authors," Marketing Science, INFORMS, vol. 27(5), pages 943-947, 09-10.
  42. anonymous, 2008. "Index to Volume 54," Management Science, INFORMS, vol. 54(12), pages 2094-2100, December.
  43. מחקר - ביטוח לאומי, 2008. "תקציב תפעולי לשנת 2008," Working Papers 74, National Insurance Institute of Israel.
  44. מחקר - ביטוח לאומי, 2008. "ינואר 2008," Working Papers 215, National Insurance Institute of Israel.
  45. ד"ר שוקי הנדלס, 2008. "המרכז לתעסוקת מבוגרים," Working Papers 176, National Insurance Institute of Israel.
  46. Anonymous, 2008. "Contents Page," Revista Mexicana de Agronegocios, Sociedad Mexicana de Administracion Agropecuaria, vol. 23(1).
  47. Jose Apesteguia & Miguel A. Ballester, 2012. "Choice by sequential procedures," Economics Working Papers 1309, Department of Economics and Business, Universitat Pompeu Fabra.
  48. anonymous, 2008. "Focus on Authors," Marketing Science, INFORMS, vol. 27(3), pages 535-540, 05-06.
  49. מחקר - ביטוח לאומי, 2008. "גיליון מספר 3," Working Papers 70, National Insurance Institute of Israel.
  50. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(3), pages iv-vii, March.
  51. Anonymous, 2008. "Land- en tuinbouwcijfers 2008," Report Series 43078, Agricultural Economics Research Institute.
  52. ז'ק בנדלק, 2008. "חברות בקופת חולים 2007-2006," Working Papers 571, National Insurance Institute of Israel.
  53. Callan, Tim & Barrell, Ray & Barrett, Alan & Casserly, Noel & Convery, Frank & Goggin, Jean & Kearney, Ide & Kirby, Simon & Lunn, Pete & O'Brien, Martin & Ryan, Lisa, 2008. "Budget Perspectives 2009," Research Series, Economic and Social Research Institute (ESRI), number RS4.
  54. Ariel Rubinstein & Yuval Salant, 2012. "Eliciting Welfare Preferences from Behavioural Data Sets," Review of Economic Studies, Oxford University Press, vol. 79(1), pages 375-387.
  55. Oecd, 2008. "Construction Industry," OECD Journal: Competition Law and Policy, OECD Publishing, vol. 10(1), pages 153-171.
  56. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(8), pages iv-vi, August.
  57. Anonymous, 2008. "Front Materials," Choices, Agricultural and Applied Economics Association, vol. 23(4).
  58. מחקר - ביטוח לאומי, 2008. "דין וחשבון שנתי לשנת 2007," Working Papers 234, National Insurance Institute of Israel.
  59. Sen, Amartya K, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Wiley Blackwell, vol. 38(115), pages 307-17, July.
  60. Anonymous, 2008. "End Materials," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(2008).
  61. OECD & Nuclear Energy Agency, 2008. "Textes de lois," Bulletin de droit nucléaire, OECD Publishing, vol. 2008(2), pages 141-197.
  62. anonymous, 2008. "Focus on Authors," Marketing Science, INFORMS, vol. 27(6), pages 1132-1136, 11-12.
  63. Anonymous, 2008. "Research Areas," Amber Waves, United States Department of Agriculture, Economic Research Service, September.
  64. anonymous, 2008. "Focus on Authors," Marketing Science, INFORMS, vol. 27(1), pages 141-145, 01-02.
  65. Anonymous, 2008. "Front Materials," Journal of Food Distribution Research, Food Distribution Research Society, vol. 39(2), July.
  66. Anonymous, 2008. "Front Materials," Choices, Agricultural and Applied Economics Association, vol. 23(2).
  67. Knetsch, Jack L & Sinden, J A, 1984. "Willingness to Pay and Compensation Demanded: Experimental Evidence of an Unexpected Disparity in Measures of Value," The Quarterly Journal of Economics, MIT Press, vol. 99(3), pages 507-21, August.
  68. ד"ר יואב סנטו, 2008. "פרויקט הורי"ם נפגעי סמים," Working Papers 75, National Insurance Institute of Israel.
  69. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(6), pages iv-vii, June.
  70. Anonymous, 2008. "Sam Spade and Self-Interest," Journal of Political Economy, University of Chicago Press, vol. 116(2), pages BackCover-B, 04.
  71. Ariel Rubinstein, 2008. "Comments on Neuroeconomics," Levine's Working Paper Archive 122247000000001984, David K. Levine.
  72. Anonymous, 2008. "End Material," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(1), April.
  73. Huber, Joel & Payne, John W & Puto, Christopher, 1982. " Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis," Journal of Consumer Research, University of Chicago Press, vol. 9(1), pages 90-98, June.
  74. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(1), pages iv-viii, January.
  75. anonymous, 2008. "Focus on Authors," Marketing Science, INFORMS, vol. 27(4), pages 749-754, 07-08.
  76. Anonymous, 2008. "Front Material," Transition to a Bio Economy Conferences, Risk, Infrastructure and Industry Evolution Conference, June 24-25, 2008, Berkeley, California 48780, Farm Foundation.
  77. Anonymous, 2008. "Contents Page," Journal of Cooperatives, NCERA-210, vol. 21.
  78. Anonymous, 2008. "Cover and Contents Pages," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(2), December.
  79. Anonymous, 2008. "Front Materials," Choices, Agricultural and Applied Economics Association, vol. 23(3).
  80. Dhar, Ravi, 1997. " Consumer Preference for a No-Choice Option," Journal of Consumer Research, University of Chicago Press, vol. 24(2), pages 215-31, September.
  81. anonymous, 2008. "Data corner: remittances," New England Community Developments, Federal Reserve Bank of Boston, pages 8-9.
  82. Sen, Amartya K, 1977. "Social Choice Theory: A Re-examination," Econometrica, Econometric Society, vol. 45(1), pages 53-89, January.
  83. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(2), pages iv-vi, February.
  84. מחקר - ביטוח לאומי, 2008. "Annual Survey 2007," Working Papers 19, National Insurance Institute of Israel.
  85. Tversky, Amos & Kahneman, Daniel, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, MIT Press, vol. 106(4), pages 1039-61, November.
  86. anonymous, 2008. "Central to ..," Annual Report, Federal Reserve Bank of St. Louis, pages 2-15.
  87. Anonymous, 2008. "NAREA Awards," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(2), October.
  88. Anonymous, 2008. "Abstracts of M.Sc. Theses," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(2), December.
  89. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(4), pages iv-vii, April.
  90. Oecd, 2008. "RFID Guidance and Reports," OECD Digital Economy Papers 150, OECD Publishing.
  91. Anonymous, 2008. "Front Material," Transition to a Bio Economy Conferences, Integration of Agricultural and Energy Systems Conference, February 12-13, 2008, Atlanta, Georgia 48769, Farm Foundation.
  92. OECD & Nuclear Energy Agency, 2008. "Summary Notes," Nuclear Law Bulletin, OECD Publishing, vol. 2008(2), pages 27-28.
  93. Anonymous, 2008. "Front Materials," Western Economics Forum, Western Agricultural Economics Association, vol. 7(02).
  94. Anonymous, 2008. "Front Materials," Choices, Agricultural and Applied Economics Association, vol. 23(1).
  95. ד"ר אורנה בראון-אפל ולובה בלין, 2008. "שירות אישי לבטיחות ילדים," Working Papers 190, National Insurance Institute of Israel.
  96. OECD & Nuclear Energy Agency, 2008. "Case Law," Nuclear Law Bulletin, OECD Publishing, vol. 2008(2), pages 111-117.
  97. Anonymous, 2008. "Front Materials," Journal of Food Distribution Research, Food Distribution Research Society, vol. 39(1), March.
  98. Ariel Rubinstein & Rani Spiegler, 2005. "Money Pumps in the Market," Levine's Bibliography 122247000000000941, UCLA Department of Economics.
  99. anonymous, 2008. "Management Insights," Management Science, INFORMS, vol. 54(5), pages iv-vi, May.
  100. Christopher J. Tyson, 2007. "Cognitive Constraints, Contraction Consistency, and the Satisficing Criterion," Working Papers 614, Queen Mary University of London, School of Economics and Finance.
  101. Anonymous, 2008. "Front Materials," Journal of Food Distribution Research, Food Distribution Research Society, vol. 39(3), November.
  102. Anonymous, 2008. "Research Areas," Amber Waves, United States Department of Agriculture, Economic Research Service, February.
  103. Luce, Mary Frances, 1998. " Choosing to Avoid: Coping with Negatively Emotion-Laden Consumer Decisions," Journal of Consumer Research, University of Chicago Press, vol. 24(4), pages 409-33, March.
  104. Anonymous, 2008. "Cover and Contents," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 21(2008).
  105. anonymous, 2008. "Money museum," TEN, Federal Reserve Bank of Kansas City, issue Fall, pages 22-23.
  106. Anonymous, 2008. "Cover and Contents Pages," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(1), April.
  107. Oecd, 2008. "Broadband and the Economy," OECD Digital Economy Papers 146, OECD Publishing.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:san:wpecon:1302. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bram Boskamp)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.