Skip to main content
Article
Choice by Lexicographic Semiorders
Theoretical Economics (2012)
  • Paola Manzini, University of St Andrews
  • Marco Mariotti
Abstract
In Tversky's (1969) model of a lexicographic semiorder, preference is generated by 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 2009, Manzini and Mariotti 2007), and we provide axiomatic characterizations of both models in terms of observable choice data.
Keywords
  • Lexicographic semiorders,
  • bounded rationality,
  • revealed preference,
  • choice
Publication Date
2012
DOI
10.3982/TE679
Citation Information
Paola Manzini and Marco Mariotti. "Choice by Lexicographic Semiorders" Theoretical Economics Vol. 7 Iss. 1 (2012) p. 1 - 23
Available at: http://works.bepress.com/paola-manzini/3/
Creative Commons license
Creative Commons License
This work is licensed under a Creative Commons CC_BY-NC-ND International License.