Abstract
This paper studies a class of multi-self decision-making models proposed in economics,
psychology, and marketing. In this class, choices arise from the set-dependent aggregation
of a collection of utility functions, where the aggregation procedure satisfies some
simple properties. We propose a method for characterizing the extent of irrationality
in a choice behavior, and use this measure to provide a lower bound on the set of
choice behaviors that can be rationalized with n utility functions. Under an additional
assumption (scale-invariance), we show that generically at most five "reasons" are
needed for every "mistake."
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