Choice by lexicographic semiorders

, () and , ()
Additional contact information
,: School of Economics and Finance, University of St Andrews
,: School of Economics and Finance, University of St Andrews
Authors registered in the RePEc Author Service: Paola Manzini and Marco Mariotti

Theoretical Economics, 2012, vol. 7, issue 1

Abstract: In Tversky's (1969) model of a lexicographic semiorder, preference is generated by the sequential application of numerical criteria, by declaring an alternative x better than an alternative y if the first criterion that distinguishes between x and y ranks x higher than y by an amount exceeding a fixed threshold. We generalize this idea to a fully-fledged model of boundedly rational choice. We explore the connection with sequential rationalizability of choice (Apesteguia and Ballester 2009, Manzini and Mariotti 2007), and we provide axiomatic characterizations of both models in terms of observable choice data.

Keywords: Lexicographic semiorders; bounded rationality; revealed preference; choice (search for similar items in EconPapers)
JEL-codes: D0 (search for similar items in EconPapers)
Date: 2012-01-09
References: Add references at CitEc
Citations: View citations in EconPapers (47)

Downloads: (external link)
http://econtheory.org/ojs/index.php/te/article/viewFile/20120001/6158/206 (application/pdf)

Related works:
Working Paper: Choice by Lexicographic Semiorders (2009)
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:the:publsh:679

Access Statistics for this article

Theoretical Economics is currently edited by Simon Board, Todd D. Sarver, Juuso Toikka, Rakesh Vohra, Pierre-Olivier Weill

More articles in Theoretical Economics from Econometric Society
Bibliographic data for series maintained by Martin J. Osborne ().