Abstract
A sequentially rationalizable choice function is a choice function that can be retrieved by applying sequentially to each choice problem the same fixed set of asymmetric binary relations (rationales) to remove inferior alternatives. These concepts translate into economic language some human choice heuristics studied in psychology and explain cyclical patterns of choice observed in experiments. We study some properties of sequential rationalizability and provide a full characterization of choice functions rationalizable by two and three rationales.
| Original language | English |
|---|---|
| Pages (from-to) | 1824-1839 |
| Number of pages | 16 |
| Journal | American Economic Review |
| Volume | 97 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - Dec 2007 |
Bibliographical note
Copyright:Copyright 2008 Elsevier B.V., All rights reserved.
Research Groups and Themes
- ECON Microeconomic Theory