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 |
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Pages (from-to) | 41-47 |
Number of pages | 7 |
Journal | Journal of mathematical economics |
Volume | 64 |
DOIs | |
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