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

Paola Manzini; Marco Mariotti; Christopher J.  Tyson

doi:10.1016/j.jmateco.2016.03.003

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

Paola Manzini, Marco Mariotti, Christopher J. Tyson

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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 language	English
Pages (from-to)	41-47
Journal	Journal of Mathematical Economics
Volume	64
Early online date	30 Mar 2016
DOIs	https://doi.org/10.1016/j.jmateco.2016.03.003
Publication status	Published - May 2016

Keywords

Choice theory
Bounded rationality

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10.1016/j.jmateco.2016.03.003

Manzini_2016_ModelofChoice_JoME_AM
Copyright © 2016 Elsevier B.V. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://dx.doi.org/10.1016/j.jmateco.2016.03.003
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title = "Partial knowledge restrictions on the two-stage threshold model of choice",

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.",

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AU - Tyson, Christopher J.

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AB - 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.

KW - Choice theory

KW - Bounded rationality

UR - https://www.scopus.com/pages/publications/84962786512

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DO - 10.1016/j.jmateco.2016.03.003

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VL - 64

SP - 41

EP - 47

JO - Journal of Mathematical Economics

JF - Journal of Mathematical Economics

ER -

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

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Keywords

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