EconPapers    
Economics at your fingertips  
 

Reason-based choice and context-dependence: An explanatory framework

Franz Dietrich and Christian List
Additional contact information
Christian List: LSE - London School of Economics and Political Science

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: We introduce a "reason-based" framework for explaining and predicting individual choices. The key idea is that a decision-maker focuses on some but not all properties of the options and chooses an option whose "motivationally salient" properties he/she most prefers. Reason-based explanations can capture two kinds of context-dependent choice: (i) the motivationally salient properties may vary across choice contexts, and (ii) they may include "context-related" properties, not just "intrinsic" properties of the options. Our framework allows us to explain boundedly rational and sophisticated choice behaviour. Since properties can be recombined in new ways, it also offers resources for predicting choices in unobserved contexts.

Keywords: Rational choice; reasons; context-dependence; bounded and sophisticated rationality; prediction of choice (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-cbe, nep-mic and nep-upt
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01249514
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19) Track citations by RSS feed

Published in Economics and Philosophy, 2016, 32, pp.175-229

Downloads: (external link)
https://shs.hal.science/halshs-01249514/document (application/pdf)

Related works:
Journal Article: REASON-BASED CHOICE AND CONTEXT-DEPENDENCE: AN EXPLANATORY FRAMEWORK (2016) Downloads
Working Paper: Reason-based choice and context-dependence: an explanatory framework (2016) Downloads
Working Paper: Reason-based choice and context-dependence: An explanatory framework (2016) Downloads
Working Paper: Reason-based choice and context-dependence: An explanatory framework (2016) Downloads
Working Paper: Reason-based choice and context-dependence: An explanatory framework (2016) Downloads
Working Paper: Reason-based choice and context-dependence: An explanatory framework (2015) Downloads
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:hal:cesptp:halshs-01249514

Access Statistics for this paper

More papers in Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL
Bibliographic data for series maintained by CCSD ().

 
Page updated 2024-02-18
Handle: RePEc:hal:cesptp:halshs-01249514