Ordinal Relative Satisficing Behavior: Theory and Experiments

Alejandro Neme () and Salvador Barberà ()

No 790, Working Papers from Barcelona School of Economics

Abstract: We propose a notion of rrationality, a relative version of satiscing behavior based on the idea that, for any set of available alternatives, individuals choose one of their rbest according to a single preference. We fully characterize the choice functions satisfying the condition for any r, and provide an algorithm to compute the maximal degree of rrationality associated with any given choice function. The notion is extended to individuals whose r may vary with the set of available alternatives. We provide experimental evidence that the predictive power of our theory, measured by Seltens index, improves upon that of alternative ones.

Keywords: preferences; Rationalizability; rationality; choice; satiscing behavior; choice functions (search for similar items in EconPapers)
JEL-codes: D01 D60 (search for similar items in EconPapers)
Date: 2015-09
New Economics Papers: this item is included in nep-dcm, nep-gth and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://bw.bse.eu/wp-content/uploads/2015/09/790-file.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bge:wpaper:790

Access Statistics for this paper

More papers in Working Papers from Barcelona School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Bruno Guallar ().