Rationalizing Choice with Multi-Self Models
Publication
, Journal Article
Ambrus, A; Rozen, K
Published in: Economic Research Initiatives at Duke (ERID)
May 1, 2012
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."
Duke Scholars
Published In
Economic Research Initiatives at Duke (ERID)
Publication Date
May 1, 2012
Issue
128
Related Subject Headings
- Economics
- 14 Economics
Citation
APA
Chicago
ICMJE
MLA
NLM
Ambrus, A., & Rozen, K. (2012). Rationalizing Choice with Multi-Self Models. Economic Research Initiatives at Duke (ERID), (128).
Ambrus, A., and K. Rozen. “Rationalizing Choice with Multi-Self Models.” Economic Research Initiatives at Duke (ERID), no. 128 (May 1, 2012).
Ambrus A, Rozen K. Rationalizing Choice with Multi-Self Models. Economic Research Initiatives at Duke (ERID). 2012 May 1;(128).
Ambrus, A., and K. Rozen. “Rationalizing Choice with Multi-Self Models.” Economic Research Initiatives at Duke (ERID), no. 128, May 2012.
Ambrus A, Rozen K. Rationalizing Choice with Multi-Self Models. Economic Research Initiatives at Duke (ERID). 2012 May 1;(128).
Published In
Economic Research Initiatives at Duke (ERID)
Publication Date
May 1, 2012
Issue
128
Related Subject Headings
- Economics
- 14 Economics