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Rationalizing Choice with Multi-Self Models

dc.contributor.author Ambrus, Attila
dc.contributor.author Rozen, K
dc.date.accessioned 2016-12-06T16:55:03Z
dc.date.available 2016-12-06T16:55:03Z
dc.date.issued 2012-05-01
dc.identifier.uri https://hdl.handle.net/10161/13195
dc.description.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."
dc.format.extent 42 pages
dc.relation.ispartof Economic Research Initiatives at Duke (ERID)
dc.subject Multi-self models
dc.subject index of irrationality
dc.subject IIA violations
dc.subject rationalizability
dc.title Rationalizing Choice with Multi-Self Models
dc.type Journal article
pubs.issue 128
pubs.organisational-group Duke
pubs.organisational-group Economics
pubs.organisational-group Trinity College of Arts & Sciences


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