• Media type: Report; E-Book
  • Title: Behavioral implications of shortlisting procedures
  • Contributor: Tyson, Christopher J. [Author]
  • Published: London: Queen Mary University of London, School of Economics and Finance, 2012
  • Language: English
  • Keywords: Complete lattice ; D03 ; Attention ; D01 ; Revealed preference ; Consideration set
  • Origination:
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  • Description: We consider two-stage shortlisting procedures in which the menu of alternatives is first pruned by some process or criterion and then a binary relation is maximized. Given a particular first-stage process, our main result supplies a necessary and sufficient condition for choice data to be consistent with a procedure in the designated class. This result applies to any class of procedures with a certain lattice structure, including the cases of consideration filters, satisficing with salience effects, and rational shortlist methods. The theory avoids background assumptions made for mathematical convenience; in this and other respects following Richter's classical analysis of preference-maximizing choice in the absence of shortlisting.
  • Access State: Open Access