Sophisticated Strategic Choice

Somdeb Lahiri

New Mathematics and Natural Computation (NMNC), 2018, vol. 14, issue 02, 277-294

Abstract: We consider two-stage strategic choice problems in which a decision maker first chooses a strategy and subsequently an alternative from a nonempty subset of feasible alternatives that may depend on the strategy chosen in the first period. The preferences over alternatives that the decision maker starts out with may change after a strategy is chosen and the new preferences may depend on the chosen strategy. We consider sophisticated trajectories and provide conditions under which such trajectories exist. Then we consider problems with a finite number of strategies and alternatives. We define the sophisticated choice function and provide characterizations for its rationalizability.

Keywords: Two-stages; sophisticated choice function; rational choice (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1142/S1793005718500175

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