Approval with frames
Journal of Mathematical Economics, 2022, vol. 103, issue C
The aim of this study is to investigate the framing effects in approval making. In contrast to choice making in which an agent maximizes the utility, approval is binary classification behaviour in which an agent ‘approves’ the items that are (weakly) preferred to the threshold. The frame is observable information that is irrelevant in the rational assessment over the items but affects approval decisions. We provide framework to study deterministic and stochastic approval with frames. The models are characterized based on axioms which are similar in spirit to Samuelson’s WARP. We illustrate how one can deduce both the decision maker’s preference and the threshold from the observed behaviour.
Keywords: Approval behaviour; Framing effect (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:103:y:2022:i:c:s0304406822001148
Access Statistics for this article
Journal of Mathematical Economics is currently edited by Atsushi (A.) Kajii
More articles in Journal of Mathematical Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().