Satisficing behavior with a secondary criterion
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Volume
44
Pagination
639 - 661
DOI
10.1007/s00355-014-0850-7
Journal
Social Choice and Welfare
Issue
ISSN
0176-1714
Metadata
Show full item recordAbstract
Using the techniques of revealed preference analysis, we study a two-stage model of choice behavior. In the first stage, the decision maker maximizes a menu-dependent binary relation encoding preferences that are imperfectly perceived. In the second, a menu-independent binary relation is maximized over the subset of alternatives that survive the first stage. This structure can support various interpretations, including those of salience effects, positive action, and surface characteristics. We characterize the model behaviorally both in ordinal form and in terms of the corresponding numerical representations.
Authors
TYSON, CJCollections
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