Open AccessList‐rationalizable choice
Author(s) -
Yildiz Kemal
Publication year - 2016
Publication title -
theoretical economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.404
H-Index - 32
eISSN - 1555-7561
pISSN - 1933-6837
DOI - 10.3982/te1298
Subject(s) - choice function , mathematical economics , rationality , corollary , independence (probability theory) , characterization (materials science) , function (biology) , set (abstract data type) , independence of irrelevant alternatives , computer science , path (computing) , mathematics , discrete mathematics , social choice theory , statistics , materials science , evolutionary biology , political science , law , biology , programming language , nanotechnology
A choice function is list rational(izable) if there is a fixed list such that for each choice set, successive comparison of the alternatives by following the list retrieves the chosen alternative. We extend the formulation of list rationality to stochastic choice setup. We say two alternatives are related if the stochastic path independence condition is violated between these alternatives. We show that a random choice function is list rational if and only if this relation is acyclic. Our characterization for deterministic choice functions follows as a corollary. By using this characterization, we relate list rationality to two‐stage choice procedures.