Showing 1 - 7 of 7
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...
Persistent link: https://www.econbiz.de/10004998324
Consistency, a natural weakening of transitivity introduced in a seminal contribution by Suzumura (1976b), has turned out to be an interesting and promising concept in a variety of areas within economic theory. This paper summarizes its recent applications and provides some new observations in...
Persistent link: https://www.econbiz.de/10005353184
In this paper we fully characterize an individual's choice behaviour according to three different so-called external references. The first system which we describe axiomatically is standard utility maximization or preference optimization. The second approach characterizes the choice of the...
Persistent link: https://www.econbiz.de/10005155471
Consistency, a natural weakening of transitivity introduced in a seminal contribution by Suzumura (1976b), has turned out to be an interesting and promising concept in a variety of areas within economic theory. This paper summarizes its recent applications and provides some new observations in...
Persistent link: https://www.econbiz.de/10008617081
Persistent link: https://www.econbiz.de/10005407524
In normal-form games, rationalizability (Bernheim, 1984, Pearce, 1984) on its own fails to exclude some very implausible strategy choices. Three main refinements of rationalizability have been proposed in the literature: cautious, perfect, and proper rationalizability. Nevertheless, some of...
Persistent link: https://www.econbiz.de/10004985137
This paper deals with N-person sequential bargaining games with complete information. For N-person sequential bargaining games, uniqueness of the SPE has been obtained by allowing the players to exit with partial agreements. Adopting a non-equilibrium approach, we show that N-person sequential...
Persistent link: https://www.econbiz.de/10005753459