List-rationalizable choice

Artikel

A choice function is \textit{list rational(izable)}, if there is a fixed \textit{list} such that for each \textit{choice set}, successive comparison of the alternatives by following the \textit{list} retrieves the chosen alternative. We extend the formulation of list rationality to stochastic choice setup. We say two alternatives are related if the \textit{stochastic path independence condition} is violated between these alternatives. We show that a random choice function is list rational if and only if this relation is acyclic. Our characterization for deterministic choice functions follows as a corollary. By using this characterization, we relate list rationality to two-stage choice procedures.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 11 ; Year: 2016 ; Issue: 2 ; Pages: 587-599 ; New Haven, CT: The Econometric Society

Classification and Topics

• Classification: Wirtschaft ; Microeconomic Behavior: Underlying Principles
• Subject: Rationalization ; list ; choice functions ; random choice ; path independence ; acyclicity

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Yıldız, Kemal
• Event: Veröffentlichung
• (who): The Econometric Society
• (where): New Haven, CT
• (when): 2016

Further information

• DOI: doi:10.3982/TE1298
• Handle: http://hdl.handle.net/10419/150287
• Last update: 10.03.2025, 11:45 AM CET