Rationalizing boundedly rational choice
Subtitle: sequential rationalizability and rational shortlist methods
By: by Paola Manzini, Marco Mariotti.
Contributors: Mariotti, Marco.
Series: Discussion paper ;; no. 1239; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) ;; no. 1239
Publisher: IZA
Published: 2004
Place of publication: Bonn, Germany
Language: eng
Format: Electronic resource
Description: "A sequentially rationalizable choice function is a choice function which can be obtained by applying sequentially a fixed set of asymmetric binary relations (rationales). A Rational ShortlistMethod (RSM) is a choice function which is sequentially rationalizable by two rationales. These concepts translate into economic language some human choice heuristics studied in psychology. We provide a full characterization of RSMs and study some properties of sequential rationalizability. These properties allow some degree of menu dependence in choice"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 5/5/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.