‘Divide-and-choose’ in list-based decision problems

‘Divide-and-choose’ in list-based decision problems

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Article ID: iaor20162453
Volume: 81
Issue: 1
Start Page Number: 17
End Page Number: 31
Publication Date: Jun 2016
Journal: Theory and Decision
Authors: , ,
Keywords: decision theory, behaviour
Abstract:

When encountering a set of alternatives displayed in the form of a list, the decision maker usually determines a particular alternative, after which she stops checking the remaining ones, and chooses an alternative from those observed so far. We present a framework in which both decision problems are explicitly modeled, and axiomatically characterize a ‘divide‐and‐choose’ rule which unifies successive choice and satisficing choice.

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