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Frick, Mira - In: Theoretical Economics 11 (2016) 3, pp. 757-772

satisficing'' model as well as Fishburn (1975) and Luce's (1956) model of choice behavior generated by a semiorder. We …Motivated by the literature on ``choice overload'', we study a boundedly rational agent whose choice behavior admits a … of the model, extending familiar characterizations of rational choice. We classify monotone threshold representations as …

Persistent link: https://www.econbiz.de/10011599584

Choice by lexicographic semiorders

Mariotti, Marco; Manzini, Paola - In: Theoretical Economics 7 (2012) 1, pp. 1-23

of boundedly rational choice. We explore the connection with sequential rationalizability of choice (Apesteguia and … choice data. …

Persistent link: https://www.econbiz.de/10011599454

Choice by iterative search

Nakajima, Daisuke; Masatlioglu, Yusufcan - In: Theoretical Economics 8 (2013) 3, pp. 701-728

When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the idea of consideration sets. Consumers engage in a...

Persistent link: https://www.econbiz.de/10011599496

Two-stage threshold representations

Manzini, Paola; Tyson, Christopher J.; Mariotti, Marco - In: Theoretical Economics 8 (2013) 3, pp. 875-882

We study two-stage choice procedures in which the decision maker first preselects the alternatives whose values …

Persistent link: https://www.econbiz.de/10011599502

Gradual pairwise comparison and stochastic choice

Dutta, Rohan - In: Theoretical Economics 15 (2020) 4, pp. 1335-1364

Guided by evidence from eye-tracking studies of choice, pairwise comparison is assumed to be the building block of the … comparisons gradually, easier comparisons preceding difficult ones. Facing a choice problem she may be unable to complete all … relevant comparisons and choose with equal odds from alternatives not found inferior. Stochastic choice data consistent with …

Persistent link: https://www.econbiz.de/10013189025

Bounded rationality and limited datasets

De Clippel, Geoffroy; Rozen, Kareen - In: Theoretical Economics 16 (2021) 2, pp. 359-380

Bounded rationality theories are typically characterized over exhaustive data sets. We develop a methodology to understand the empirical content of such theories with limited data, adapting the classic, revealed-preference approach to new forms of revealed information. We apply our approach to...

Persistent link: https://www.econbiz.de/10013189065

Revealed preference and choice under uncertainty

Bossert, Walter; Suzumura, Kotaro - In: SERIEs - Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 247-258

We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be … of choice, our objective is to formulate a general approach that is designed to cover the various decision criteria that … have been proposed in the literature. We use a mild dominance property to define a class of suitable choice criteria. In …

Persistent link: https://www.econbiz.de/10010317069

What were you thinking? Decision theory as coherence test

Gilboa, Itzhak; Samuelson, Larry - In: Theoretical Economics 17 (2022) 2, pp. 507-519

Decision theory can be used to test the logic of decision making---one may ask whether a given set of decisions can be justified by a decision-theoretic model. Indeed, in principal-agent settings, such justifications may be required---a manager of an investment fund may be asked what beliefs she...

Persistent link: https://www.econbiz.de/10014537027

Nested identification of subjective probabilities

Dreze, Jacques H. - In: SERIEs - Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 259-271

The theory of games against nature relies on complete preferences among all conceivable acts (case 1). Aumann and Drèze (Am Econ J Microecon 1(1):116,(2009) consider situations where preferences are defined only for a given set of acts (case 2).We extend these results to situations where (i)...

Persistent link: https://www.econbiz.de/10010317103

Motivational congruence effect: How reward salience and choice influence motivation and performance

Hendijani, Rosa; Steel, Piers - In: Cogent Business & Management 7 (2020) 1, pp. 1-21

The effect of performance-contingent reward and choice on motivation and performance continues to be debated. Studies … in economics and behavioral psychology consider performance-contingent rewards and choice as two separate motivational … that performance-contingent rewards negatively interact with choice, reducing its positive effect on motivation. The …

Persistent link: https://www.econbiz.de/10012657183

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