Sequentially Rationalizable Choice
Manzini, Paola, and
Marco Mariotti. 2007. "Sequentially Rationalizable Choice."
American Economic Review,
A sequentially rationalizable choice function is a choice function that can be
retrieved by applying sequentially to each choice problem the same fixed set of
asymmetric binary relations (rationales) to remove inferior alternatives. These concepts
translate into economic language some human choice heuristics studied in
psychology and explain cyclical patterns of choice observed in experiments. We
study some properties of sequential rationalizability and provide a full characterization
of choice functions rationalizable by two and three rationales. (JEL D01).
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