Choosing the two finalists

Kfir Eliaz*, Michael Richter, Ariel Rubinstein

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

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 languageEnglish
Pages (from-to)211-219
Number of pages9
JournalEconomic Theory
Volume46
Issue number2
DOIs
StatePublished - Feb 2011

Keywords

  • Axiomatization
  • Choice correspondence
  • Consideration sets
  • Two-stage choice

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