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http://hdl.handle.net/10419/20503
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| Title: | | Rationalizing Boundedly Rational Choice : Sequential Rationalizability and Rational Shortlist Methods  |
| Authors: | | Manzini, Paola Mariotti, Marco |
| Issue Date: | | 2004 |
| Series/Report no.: | | IZA Discussion paper series 1239 |
| Abstract: | | 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. |
| Subjects: | | rationalizability of choice bounded rationality intransitive choice incomplete preferences menu dependence |
| JEL: | | D0 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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