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

Paola Manzini, Marco Mariotti*, Christopher J. Tyson

*Corresponding author for this work

Research output: Contribution to journalArticle (Academic Journal)peer-review

1 Citation (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 languageEnglish
Pages (from-to)41-47
Number of pages7
JournalJournal of mathematical economics
Volume64
DOIs
Publication statusPublished - 1 May 2016

Bibliographical note

Publisher Copyright:
© 2016 Elsevier B.V.

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

Keywords

  • Bounded rationality
  • Choice theory

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