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Persistent link: https://www.econbiz.de/10005370712
In this paper, we attempt to combine the concept of a choice function with a procedural aspect. We examine an individual’s choices over alternatives when the available options are linked either to the procedure by which these alternatives came into existence or to the degree of availability of...
Persistent link: https://www.econbiz.de/10005370994
In this paper we fully characterize an individual's choice behaviour according to three different so-called external references. The first system which we describe axiomatically is standard utility maximization or preference optimization. The second approach characterizes the choice of the...
Persistent link: https://www.econbiz.de/10005155471
In this paper we characterize choice behavior that picks the second largest element if there is a uniquely largest: otherwise, the largest elements are picked. Having defined our choice function, we offer a complete characterization of the latter in terms of pure choice function conditions....
Persistent link: https://www.econbiz.de/10005753410
In this paper we characterize choice behaviour that picks the second largest element if there is a uniquely largest; otherwise, the largest elements are picked. Having defined our choice function, we offer a complete characterization of the latter in terms of pure choice function conditions....
Persistent link: https://www.econbiz.de/10005596738