TY  - RPRT
        AU  - Manzini, Paola
AU  - Mariotti, Marco
        TI  - Rationalizing Boundedly Rational Choice: Sequential Rationalizability and Rational Shortlist Methods
        PY  - 2004/Aug/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 1239
        UR  - https://www.iza.org/index.php/publications/dp1239
        AB  - A sequentially rationalizable choice function is a choice function which can be obtained by
applying sequentially a fixed set of asymmetric binary relations (rationales). A Rational
ShortlistMethod (RSM) is a choice function which is sequentially rationalizable by two
rationales. These concepts translate into economic language some human choice heuristics
studied in psychology. We provide a full characterization of RSMs and study some properties
of sequential rationalizability. These properties allow some degree of menu dependence in
choice.
        KW  - incomplete preferences
KW  - intransitive choice
KW  - bounded rationality
KW  - menu dependence
KW  - rationalizability of choice
        ER  -