• Media type: E-Article
  • Title: List-rationalizable choice
  • Contributor: Yıldız, Kemal [Author]
  • Published: New Haven, CT: The Econometric Society, 2016
  • Language: English
  • DOI: https://doi.org/10.3982/TE1298
  • ISSN: 1555-7561
  • Keywords: acyclicity ; list ; path independence ; Rationalization ; D01 ; choice functions ; random choice
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  • Description: A choice function is \textit{list rational(izable)}, if there is a fixed \textit{list} such that for each \textit{choice set}, successive comparison of the alternatives by following the \textit{list} retrieves the chosen alternative. We extend the formulation of list rationality to stochastic choice setup. We say two alternatives are related if the \textit{stochastic path independence condition} is violated between these alternatives. We show that a random choice function is list rational if and only if this relation is acyclic. Our characterization for deterministic choice functions follows as a corollary. By using this characterization, we relate list rationality to two-stage choice procedures.
  • Access State: Open Access