Partial knowledge restrictions on the two-stage threshold model of choice

Paola Manzini, Marco Mariotti, Christopher J. Tyson

    Research output: Contribution to journalArticlepeer-review

    1 Citation (Scopus)

    Abstract

    In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more variables are exogenously known. Our results supply necessary and sufficient conditions for consistency with the model for all possible states of partial knowledge, and for both single- and multi- valued choice functions.
    Original languageEnglish
    Pages (from-to)41-47
    JournalJournal of Mathematical Economics
    Volume64
    Early online date30 Mar 2016
    DOIs
    Publication statusPublished - May 2016

    Keywords

    • Choice theory
    • Bounded rationality

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