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This paper develops a model of choice that embeds some psychological aspects affecting decision maker's behaviour. In … availability or the level of salience- to each alternative in a universal collection. Choice behaviour of the decision maker is … then conditioned by the indexes attached to the alternatives. With this paper we show that, if the conditional choice …
Persistent link: https://www.econbiz.de/10010280751
In this paper we develop tests for whether play in a game is consistent with equilibrium behavior when preferences are unobserved. We provide necessary and sufficient conditions for observed outcomes in extensive game forms to be rationalized first, partially, as a Nash equilibrium and then,...
Persistent link: https://www.econbiz.de/10010318885
of partial knowledge, and for both single- and multi-valued choice functions. …
Persistent link: https://www.econbiz.de/10011796514
Using the techniques of revealed preference analysis, we study a two-stage model of choice behavior. In the first stage …
Persistent link: https://www.econbiz.de/10011381006
In an earlier paper [Rational choice and AGM belief revision, Artificial Intelligence, 2009] a correspondence was … established between the choice structures of revealed-preference theory (developed in economics) and the syntactic belief revision … generalized notion of) choice structure in terms of belief revision by adding: (1) the possibility that an item of ''information …
Persistent link: https://www.econbiz.de/10012655885
A theory of decision making is proposed that offers an axiomatic basis for the notion of satisficing postulated by … to the complexity of the choice problem at hand. When complexity is aligned with set inclusion, this exercise is shown to … be equivalent to abandoning the contraction consistency axiom of classical choice theory. …
Persistent link: https://www.econbiz.de/10010284092
Many decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two...
Persistent link: https://www.econbiz.de/10010284205
an attribute-based choice experiment on alternative land-use policies in Switzerland. In contrast to the usual … results. (1) The response rate of the survey was unaffected by the party positions. (2) The proportion of no-choice answers … information interacted with educational level in only eight out of forty choice sets, suggesting that even the more educated …
Persistent link: https://www.econbiz.de/10010315585
In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10010294849
Although examples of deception and fraud in business have generated widespread interest in themotivations for honest behavior, little is known about individual differences in the propensity totell the truth. This paper highlights the role of honesty as a protected value, maintaining thatsome...
Persistent link: https://www.econbiz.de/10009248831