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List-based decision problems

Author

Listed:
  • Dimitrov, Dinko
  • Mukherjee, Saptarshi
  • Muto, Nozomu
  • 無藤, 望

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.
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Suggested Citation

  • Dimitrov, Dinko & Mukherjee, Saptarshi & Muto, Nozomu & 無藤, 望, 2013. "List-based decision problems," Discussion Papers 2013-02, Graduate School of Economics, Hitotsubashi University.
    • Handle: RePEc:hit:econdp:2013-02
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    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/25504/070econDP13-02.pdf
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    References listed on IDEAS

    as
    1. , & ,, 2013. "Choice by iterative search," Theoretical Economics, Econometric Society, vol. 8(3), September.
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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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