Partial knowledge restrictions on the two-stage threshold model of choice

Paola Manzini; Marco Mariotti; Christopher J. Tyson

doi:10.1016/j.jmateco.2016.03.003

Partial knowledge restrictions on the two-stage threshold model of choice

Paola Manzini, Marco Mariotti^*, Christopher J. Tyson

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article (Academic Journal) › peer-review

2 Citations (Scopus)

Abstract

In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more variables are exogenously known. Our results supply necessary and sufficient conditions for consistency with the model for all possible states of partial knowledge, and for both single- and multi-valued choice functions.

Original language	English
Pages (from-to)	41-47
Number of pages	7
Journal	Journal of mathematical economics
Volume	64
DOIs	https://doi.org/10.1016/j.jmateco.2016.03.003
Publication status	Published - 1 May 2016

Bibliographical note

Publisher Copyright:
© 2016 Elsevier B.V.

Copyright:
Copyright 2016 Elsevier B.V., All rights reserved.

Research Groups and Themes

ECON Microeconomic Theory

Keywords

Bounded rationality
Choice theory

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10.1016/j.jmateco.2016.03.003

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AU - Manzini, Paola

AU - Mariotti, Marco

AU - Tyson, Christopher J.

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N2 - In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more variables are exogenously known. Our results supply necessary and sufficient conditions for consistency with the model for all possible states of partial knowledge, and for both single- and multi-valued choice functions.

AB - In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more variables are exogenously known. Our results supply necessary and sufficient conditions for consistency with the model for all possible states of partial knowledge, and for both single- and multi-valued choice functions.

KW - Bounded rationality

KW - Choice theory

UR - http://www.scopus.com/inward/record.url?scp=84962786512&partnerID=8YFLogxK

U2 - 10.1016/j.jmateco.2016.03.003

DO - 10.1016/j.jmateco.2016.03.003

M3 - Article (Academic Journal)

AN - SCOPUS:84962786512

SN - 0304-4068

VL - 64

SP - 41

EP - 47

JO - Journal of mathematical economics

JF - Journal of mathematical economics

ER -

Partial knowledge restrictions on the two-stage threshold model of choice

Abstract

Bibliographical note

Research Groups and Themes

Keywords

Access to Document

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