Choice by Lexicographic Semiorders
26 Pages Posted: 17 Mar 2009
We propose an extension of Tversky's lexicographic semiorder to a model of boundedly rational choice. We explore the connection with sequential rationalisability of choice, and we provide axiomatic characterisations of both models in terms of observable choice data.
Keywords: lexicographic semiorders, bounded rationality, revealed preference, choice
JEL Classification: D0
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