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Standard choice theory assumes that the choice set is known to the decision-maker in advance. In contrast, we develop a model in which alternatives are examined sequentially and decision-makers exhibit `satis cing' attitudes. The proposed procedure includes the standard model of choice as a special case and can explain several choice anomalies. We axiomatically characterize our model and investigate behavioral de nitions of satisfaction, attention, and preference under various choice domains. Moreover, we extend Rubinstein and Salant (2006)'s choice from list model and investigate the relationships between their procedure and ours.
Standard choice theory assumes that the choice set is known to the decision-maker in advance. In contrast, we develop a model in which alternatives are examined
Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k
Abstract: When making a decision, some individuals have a strong desire towards maximizing decisional outcomes (i.e., maximizing tendency), while others tend to
In our day-to-day lives we constantly make decisions which are simply 'good enough' rather than optimal. Most computer-based decision-making algorithms, on the
Ariel Rubinstein's well-known lecture notes on microeconomics—now fully revised and expanded This book presents Ariel Rubinstein's lecture notes for the first
