TY  - RPRT
        AU  - Mandler, Michael
AU  - Manzini, Paola
AU  - Mariotti, Marco
        TI  - A Million Answers to Twenty Questions: Choosing by Checklist
        PY  - 2008/Feb/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 3377
        UR  - https://www.iza.org/index.php/publications/dp3377
        AB  - Many decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two approaches are nearly equivalent. Moreover, the length of the shortest checklist as a proportion of the number of an agent’s indifference classes shrinks to 0 (at an exponential rate) as the number of indifference classes increases. Checklists therefore provide a rapid procedural basis for utility maximization.
        KW  - bounded rationality
KW  - procedural rationality
KW  - utility maximization
KW  - choice behavior
        ER  -