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Sequential Choice with Incomplete Preferences

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  • Xiaosheng Mu

    (Princeton University)

Abstract

We study the outcome of a sequential choice procedure based on a potentially incomplete preference relation. A decision maker evaluates alternatives in a list and iteratively updates her choice by comparing the status quo to the next alternative. She favors the status quo whenever the two alternatives are incomparable according to her underlying preference. Developing a revealed preference approach, we characterize all choice functions that can arise from such a procedure, as well as all possible preferences that can rationalize given choices.

Suggested Citation

  • Xiaosheng Mu, 2021. "Sequential Choice with Incomplete Preferences," Working Papers 2021-35, Princeton University. Economics Department..
    • Handle: RePEc:pri:econom:2021-35
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    References listed on IDEAS

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    More about this item

    Keywords

    Choice from lists; Status quo bias; Revealed preference;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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