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List-based decision problems

Author

Listed:
  • Dinko Dimitrov
  • Saptarshi Mukherjee
  • Nozomu Muto

Abstract

When encountering a set of alternatives displayed in the form of a list, the decision maker usually determines a particular alternative, after which she stops checking the remaining ones, and chooses an alternative from those observed so far. We present a framework in which both decision problems are explicitly modeled, and axiomati- cally characterize a stop-and-choose rule which unifies position-biased successive choice and satisficing choice.

Suggested Citation

  • Dinko Dimitrov & Saptarshi Mukherjee & Nozomu Muto, 2013. "List-based decision problems," UFAE and IAE Working Papers 927.13, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    • Handle: RePEc:aub:autbar:927.13
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    References listed on IDEAS

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    1. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
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    6. Yuval Salant, 2011. "Procedural Analysis of Choice Rules with Applications to Bounded Rationality," American Economic Review, American Economic Association, vol. 101(2), pages 724-748, April.
    7. ,, 2016. "List-rationalizable choice," Theoretical Economics, Econometric Society, vol. 11(2), May.
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    9. Yuval Salant, 2003. "Limited Computational Resources Favor Rationality," Discussion Paper Series dp320, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    10. , & ,, 2013. "Choice by iterative search," Theoretical Economics, Econometric Society, vol. 8(3), September.
    11. Yuval Salant & Ariel Rubinstein, 2008. "(A, f): Choice with Frames -super-1," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 75(4), pages 1287-1296.
    12. Kristin Diehl & Gal Zauberman, 2005. "Searching Ordered Sets: Evaluations from Sequences under Search," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 31(4), pages 824-832, March.
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    Cited by:

    1. Paulo Oliva & Philipp Zahn, 2021. "On Rational Choice and the Representation of Decision Problems," Games, MDPI, vol. 12(4), pages 1-21, November.

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    More about this item

    Keywords

    choice function; list; satisficing choice; stopping decision; successive choice;
    All these keywords.

    JEL classification:

    • D00 - Microeconomics - - General - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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