TY - JOUR
T1 - A million answers to twenty questions
T2 - choosing by checklist
AU - Mandler, Michael
AU - Manzini, Paola
AU - Mariotti, Marco
PY - 2012/1
Y1 - 2012/1
N2 - Several decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two approaches are nearly equivalent. Since the number of preference discriminations that an agent can make increases exponentially in the number of properties used, checklists provide a rapid procedural basis for utility maximization.
AB - Several decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two approaches are nearly equivalent. Since the number of preference discriminations that an agent can make increases exponentially in the number of properties used, checklists provide a rapid procedural basis for utility maximization.
UR - https://www.scopus.com/pages/publications/84155172519
U2 - 10.1016/j.jet.2011.11.012
DO - 10.1016/j.jet.2011.11.012
M3 - Article
SN - 0022-0531
VL - 147
SP - 71
EP - 92
JO - Journal of Economic Theory
JF - Journal of Economic Theory
IS - 1
ER -