Indecisiveness, Undesirability and Overload Revealed Through Rational Choice Deferral

Georgios Gerasimou

MPRA Paper from University Library of Munich, Germany

Abstract: Three reasons why decision makers may defer choice are *indecisiveness* between feasible options, *unattractiveness* of these options and *choice overload*. This paper provides a choice-theoretic explanation for each of these phenomena by means of three deferral-permissive models of decision making that are driven by preference incompleteness, undesirability and complexity constraints, respectively. These models feature *rational* choice deferral in the sense that whenever the individual does choose an option from a menu, this is a most preferred option in that menu, so that choices are always WARP-consistent. The models also allow for the use of observable data to recover the individual's preferences and, where applicable, the indecisiveness and undesirability components of these preferences.

Keywords: Choice deferral; incomplete preferences; indecisiveness; unattractiveness; choice overload; revealed preference. (search for similar items in EconPapers)
JEL-codes: D01 D03 D11 (search for similar items in EconPapers)
Date: 2015-10
New Economics Papers: this item is included in nep-dcm, nep-evo, nep-mic and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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https://mpra.ub.uni-muenchen.de/72946/1/MPRA_paper_67290.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/72946/8/MPRA_paper_72946.pdf revised version (application/pdf)

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