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Choice by lexicographic semiorders
journal contribution
posted on 2023-06-09, 08:41 authored by Paola Manzini, Marco MariottiIn Tversky's (1969) model of a lexicographic semiorder, a preference is generated via the sequential application of numerical criteria by declaring an alternative x better than an alternative y if the first criterion that distinguishes between x and y ranks x higher than y by an amount exceeding a fixed threshold. We generalize this idea to a fully fledged model of boundedly rational choice. We explore the connection with sequential rationalizability of choice (Apesteguia and Ballester 2010, Manzini and Mariotti 2007) and we provide axiomatic characterizations of both models in terms of observable choice data.
History
Publication status
- Published
File Version
- Published version
Journal
Theoretical EconomicsISSN
1933-6837Publisher
Econometric SocietyExternal DOI
Issue
1Volume
7Page range
1-23Department affiliated with
- Economics Publications
Full text available
- Yes
Peer reviewed?
- Yes