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This paper develops a model of choice that embeds some psychological aspects affecting decision maker's behaviour. In the model, the decision maker attaches an unobservable psychological index -representing, e.g., the level of perceived availability or the level of salience- to each alternative...
Persistent link: https://www.econbiz.de/10005106390
A reason-based choice correspondence rationalizes choice behaviour in terms of a two-stage choice procedure. Given a feasible set <i>S</i>, the individual eliminates from it all of the dominated alternatives according to her fixed (not necessarily complete) strict preference relation, in the first...
Persistent link: https://www.econbiz.de/10005106424