Abstract
This paper studies a decision maker who for each choice set selects a subset of (at most) two alternatives. We axiomatize three types of procedures: (i) The top two: the decision maker has in mind an ordering and chooses the two maximal alternatives. (ii) The two extremes: the decision maker has in mind an ordering and chooses the maximal and the minimal alternatives. (iii) The top and the top: the decision maker has in mind two orderings and he chooses the maximal element from each.
Original language | English |
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Pages (from-to) | 211-219 |
Number of pages | 9 |
Journal | Economic Theory |
Volume | 46 |
Issue number | 2 |
DOIs | |
State | Published - Feb 2011 |
Keywords
- Axiomatization
- Choice correspondence
- Consideration sets
- Two-stage choice