Choosing among alternatives by proceeding lexicographically through a sequence of criteria can serve as a theoretical tool as well as a practical way to make decisions. First, sequences of criteria can generate monotone preferences that satisfy a fractal or self-similarity property, strictly...

By taking sets of utility functions as a primitive description of agents, we define an ordering over assumptions on utility functions that gauges their implicit measurement requirements. Cardinal and ordinal assumptions constitute two types of measurement requirements, but several standard...

When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the idea of consideration sets. Consumers engage in a...