Resource title

Rationalizing Boundedly Rational Choice : Sequential Rationalizability and Rational Shortlist Methods

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Resource description

A sequentially rationalizable choice function is a choice function which can be obtained by applying sequentially a fixed set of asymmetric binary relations (rationales). A Rational ShortlistMethod (RSM) is a choice function which is sequentially rationalizable by two rationales. These concepts translate into economic language some human choice heuristics studied in psychology. We provide a full characterization of RSMs and study some properties of sequential rationalizability. These properties allow some degree of menu dependence in choice.

Resource author

Paola Manzini, Marco Mariotti

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/20503

Resource license

Adapt according to the presented license agreement and reference the original author.