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Rational Filters

Hassan Nosratabadi ()

Departmental Working Papers from Rutgers University, Department of Economics

Abstract: It has been widely documented that reference points influence the choice. If references affect choice by attracting attention towards an alternative, what can be said about the joint effect of the references? Assuming that references form preferences, or are rational filters, this paper extracts a reference-dependent choice model with joint referential effects from WARP. Assume that a DM has an ''unfiltered'' pairwise preference which is inferred from her choice over doubletons. The DM's uses her rational filters consecutively on the pairwise preference in order to finalize her choice.

Keywords: Rational Preferences; Rational Filters; Revealed Preference; Referential Decision Maker; WARP Decompositions (search for similar items in EconPapers)
JEL-codes: D11 D81 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm and nep-upt
Date: 2017-10-20
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