Two-stage threshold representations

, (), , () and , J. ()
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,: School of Economics and Finance, University of St. Andrews
,: School of Economics and Finance, University of St. Andrews
, J.: School of Economics and Finance, Queen Mary University of London
Authors registered in the RePEc Author Service: Marco Mariotti, Christopher John Tyson and Paola Manzini

Theoretical Economics, 2013, vol. 8, issue 3

Abstract: We study two-stage choice procedures in which the decision maker first preselects the alternatives whose values according to a criterion pass a menu-dependent threshold, and then maximizes a second criterion to narrow the selection further. This framework overlaps with several existing models that have various interpretations and impose various additional restrictions on behavior. We show that the general class of procedures is characterized by acyclicity of the revealed "first-stage separation relation."

Keywords: Attention; choice function; revealed preference; satisficing (search for similar items in EconPapers)
JEL-codes: D01 D03 D70 (search for similar items in EconPapers)
Date: 2013-09-18
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Citations: View citations in EconPapers (20)

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