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Partial Knowledge Restrictions on the Two-Stage Threshold Model of Choice

Listed author(s):
  • Paola Manzini

    ()

    (University of St Andrews and IZA)

  • Marco Mariotti

    ()

    (Queen Mary University of London)

  • Christopher J. Tyson

    ()

    (Queen Mary University of London)

In the context of the two-stage threshold model of decision making, with the agent’s choices determined by the interaction of three “structural variables,” we study the restrictions on behavior that arise when one or more variables are exogenously known. Our results supply necessary and sufficient conditions for consistency with the model for all possible states of partial knowledge, and for both single- and multi- valued choice functions.

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File URL: http://www.st-andrews.ac.uk/~wwwecon/repecfiles/4/1503.pdf
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Paper provided by Department of Economics, University of St. Andrews in its series Discussion Paper Series, Department of Economics with number 201503.

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Date of creation: 05 Mar 2015
Handle: RePEc:san:wpecon:1503
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  13. Kfir Eliaz & Michael Richter & Ariel Rubinstein, 2011. "Choosing the two finalists," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(2), pages 211-219, February.
  14. Mandler, Michael, 2009. "Indifference and incompleteness distinguished by rational trade," Games and Economic Behavior, Elsevier, vol. 67(1), pages 300-314, September.
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  16. ., 2013. "Corporations, culture and accountability," Chapters,in: The Political Power of the Business Corporation, chapter 8, pages 177-196 Edward Elgar Publishing.
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  18. Spears Dean, 2011. "Intertemporal Bounded Rationality as Consideration Sets with Contraction Consistency," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 11(1), pages 1-16, June.
  19. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, Oxford University Press, vol. 69(1), pages 99-118.
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  21. Marco Mariotti, 2008. "What kind of preference maximization does the weak axiom of revealed preference characterize?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(2), pages 403-406, May.
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  23. Rubinstein, Ariel & Salant, Yuval, 2006. "A model of choice from lists," Theoretical Economics, Econometric Society, vol. 1(1), pages 3-17, March.
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  26. Wei He & Nicholas C. Yannelis, 2013. "A New Perspective on Rational Expectations," The School of Economics Discussion Paper Series 1317, Economics, The University of Manchester.
  27. Manzini, Paola & Tyson, Christopher J. & Mariotti, Marco, 2013. "Two-stage threshold representations," Theoretical Economics, Econometric Society, vol. 8(3), September.
  28. Eriksson, Tor & Pan, Jay & Qin, Xuezheng, 2014. "The intergenerational inequality of health in China," China Economic Review, Elsevier, vol. 31(C), pages 392-409.
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  30. ., 2013. "Haavelmo reconsidered as rational econometric man," Chapters,in: Rational Econometric Man, chapter 2, pages 35-60 Edward Elgar Publishing.
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