Two-stage threshold representations

Paola Manzini; Marco Mariotti; Christopher J. Tyson

doi:10.3982/TE1048

Two-stage threshold representations

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

13 Citations (Scopus)

Abstract

We study two-stage choice procedures in which the decision maker first preselects the alternatives whose values according to a criterion pass a menu-dependent threshold and then maximizes a second criterion to narrow the selection further. This framework overlaps with several existing models that have various interpretations and impose various additional restrictions on behavior. We show that the general class of procedures is characterized by acyclicity of the revealed "first-stage separation relation."

Original language	English
Pages (from-to)	875-882
Number of pages	8
Journal	Theoretical Economics
Volume	8
Issue number	3
DOIs	https://doi.org/10.3982/TE1048
Publication status	Published - Sept 2013

Bibliographical note

Copyright:
Copyright 2013 Elsevier B.V., All rights reserved.

Research Groups and Themes

ECON Microeconomic Theory

Keywords

Attention
Choice function
D01
D03
D70
Revealed preference
Satisficing

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10.3982/TE1048

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Cite this

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AB - We study two-stage choice procedures in which the decision maker first preselects the alternatives whose values according to a criterion pass a menu-dependent threshold and then maximizes a second criterion to narrow the selection further. This framework overlaps with several existing models that have various interpretations and impose various additional restrictions on behavior. We show that the general class of procedures is characterized by acyclicity of the revealed "first-stage separation relation."

KW - Attention

KW - Choice function

KW - D01

KW - D03

KW - D70

KW - Revealed preference

KW - Satisficing

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DO - 10.3982/TE1048

M3 - Article (Academic Journal)

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VL - 8

SP - 875

EP - 882

JO - Theoretical Economics

JF - Theoretical Economics

IS - 3

ER -

Two-stage threshold representations

Abstract

Bibliographical note

Research Groups and Themes

Keywords

Access to Document

Handle.net

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