Using the techniques of revealed preference analysis, we study a two-stage model of choice behavior. In the first stage …

Satisficing is a hugely influential model of boundedly rational choice, yet it cannot be easily tested using standard … choice data. We develop necessary and sufficient conditions for stochastic choice data to be consistent with satisficing …, assuming that preferences are fixed, but search order may change randomly. The model predicts that stochastic choice can only …

We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after … paradoxically express their preference through choice more truthfully than more rational agents. -- Discrete choice ; random utility …

We propose an extension of Tversky's lexicographic semiorder to a model of boundedly rational choice. We explore the … connection with sequential rationalisability of choice, and we provide axiomatic characterisations of both models in terms of … observable choice data. -- Lexicographic semiorders ; bounded rationality ; revealed preference ; choice …