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Abstract
In Tversky’s (1969) model of a lexicographic semiorder, a preference is generated
via the sequential application of numerical criteria by declaring an alternative x
better than an alternative y if the first criterion that distinguishes between x and
y ranks x higher than y by an amount exceeding a fixed threshold. We generalize
this idea to a fully fledged model of boundedly rational choice. We explore the
connection with sequential rationalizability of choice (Apesteguia and Ballester
2010, Manzini and Mariotti 2007) and we provide axiomatic characterizations of
both models in terms of observable choice data.
via the sequential application of numerical criteria by declaring an alternative x
better than an alternative y if the first criterion that distinguishes between x and
y ranks x higher than y by an amount exceeding a fixed threshold. We generalize
this idea to a fully fledged model of boundedly rational choice. We explore the
connection with sequential rationalizability of choice (Apesteguia and Ballester
2010, Manzini and Mariotti 2007) and we provide axiomatic characterizations of
both models in terms of observable choice data.
| Original language | English |
|---|---|
| Pages (from-to) | 1-23 |
| Journal | Theoretical Economics |
| Volume | 7 |
| Issue number | 1 |
| Early online date | 4 Nov 2010 |
| DOIs | |
| Publication status | Published - Jan 2012 |
Keywords
- Lexicographic semiorders
- Bounded rationality
- Revealed preference
- Choice
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Dive into the research topics of 'Choice by lexicographic semiorders'. Together they form a unique fingerprint.Research output
- 1 Working paper
-
Choice by lexicographic semiorders
Manzini, P. & Mariotti, M., 2009, (IZA, Discussion Paper; no. 4046).Research output: Working paper