Behavioral implications of shortlisting procedures
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Volume
41
Pagination
941 - 963 (22)
Publisher
Publisher URL
DOI
10.1007/s00355-012-0704-0
Journal
Social Choice and Welfare
Issue
ISSN
0176-1714
Metadata
Show full item recordAbstract
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.
Authors
TYSON, CJCollections
- Economics and Finance [286]