List-rationalizable choice
Date
2016
Authors
Yıldız, K.
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Instructor
Source Title
Theoretical Economics
Print ISSN
1933-6837
Electronic ISSN
1555-7561
Publisher
Economic Society
Volume
11
Issue
2
Pages
587 - 599
Language
English
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Journal Title
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Abstract
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. © 2016 The Econometric Society.