A characterization of sequential rationalizability

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Apesteguia, Jose; Ballester, Miguel A.. A characterization of sequential rationalizability. 2008
http://hdl.handle.net/10230/557
To cite or link this document: http://hdl.handle.net/10230/557
dc.contributor.author Apesteguia, Jose
dc.contributor.author Ballester, Miguel A.
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 2008-05-01
dc.identifier.uri http://hdl.handle.net/10230/557
dc.description.abstract A choice function is sequentially rationalizable if there is an ordered collection of asymmetric binary relations that identifies the selected alternative in every choice problem. We propose a property, F-consistency, and show that it characterizes the notion of sequential rationalizability. F-consistency is a testable property that highlights the behavioral aspects implicit in sequentially rationalizable choice. Further, our characterization result provides a novel tool with which to study how other behavioral concepts are related to sequential rationalizability, and establish a priori unexpected implications. In particular, we show that the concept of rationalizability by game trees, which, in principle, had little to do with sequential rationalizability, is a refinement of the latter. Every choice function that is rationalizable by a game tree is also sequentially rationalizable. Finally, we show that some prominent voting mechanisms are also sequentially rationalizable.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1089
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title A characterization of sequential rationalizability
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2014-06-03T07:14:22Z
dc.subject.keyword Microeconomics
dc.subject.keyword individual rationality
dc.subject.keyword rationalizability
dc.subject.keyword consistency
dc.subject.keyword bounded rationality
dc.subject.keyword behavioral economics
dc.subject.keyword voting
dc.rights.accessRights info:eu-repo/semantics/openAccess


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