This note provides two numerical representations of a nested system of strict partial orders. The first representation is based on utility and threshold functions. We generalize the threshold representation of menu-dependent preferences by allowing the threshold to depend not only on the menu...

ABSTRACT. This article studies choice behavior under two types of salience effect: bottom-up stimulus-driven and top-down objective-driven salience. We incorporate both types of salience effect into a simple model that keeps the dichotomy of preference and menu. Applying the revealed preference...

Inspired by evidence from cognitive psychology, this article studies a simple choice model in which two systems jointly determine behavior: a fast, effortless, and gullible system 1 and a slow, effortful, and deliberate system 2. By incorporating both sources of "irrational" behavior, our model...