Behavioral implications of shortlisting procedures

Arbeitspapier

We consider two-stage shortlisting procedures in which the menu of alternatives is first pruned by some process or criterion and then a binary relation is maximized. Given a particular first-stage process, our main result supplies a necessary and sufficient condition for choice data to be consistent with a procedure in the designated class. This result applies to any class of procedures with a certain lattice structure, including the cases of consideration filters, satisficing with salience effects, and rational shortlist methods. The theory avoids background assumptions made for mathematical convenience; in this and other respects following Richter's classical analysis of preference-maximizing choice in the absence of shortlisting.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 697

Classification and Topics

• Classification: Wirtschaft ; Microeconomic Behavior: Underlying Principles
• Subject: Attention ; Complete lattice ; Consideration set ; Revealed preference

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Tyson, Christopher J.
• Event: Veröffentlichung
• (who): Queen Mary University of London, School of Economics and Finance
• (where): London
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/97359
• Last update: 10.03.2025, 11:43 AM CET