Choice by lexicographic semiorders

Manzini, Paola and Mariotti, Marco (2012) Choice by lexicographic semiorders. Theoretical Economics, 7 (1). pp. 1-23. ISSN 1933-6837

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Abstract

In Tversky's (1969) model of a lexicographic semiorder, a preference is generated via the sequential application of numerical criteria by declaring an alternative x better than an alternative y if the first criterion that distinguishes between x and y ranks x higher than y by an amount exceeding a fixed threshold. We generalize this idea to a fully fledged model of boundedly rational choice. We explore the connection with sequential rationalizability of choice (Apesteguia and Ballester 2010, Manzini and Mariotti 2007) and we provide axiomatic characterizations of both models in terms of observable choice data.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: H Social Sciences > HB Economic theory. Demography > HB0131 Methodology > HB0135 Mathematical economics. Quantitative methods Including econometrics, input-output analysis, game theory
Depositing User: Professor Paola Manzini
Date Deposited: 07 Nov 2017 12:32
Last Modified: 07 Nov 2017 12:33
URI: http://sro.sussex.ac.uk/id/eprint/71001

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