(A,f): Choice with Frames1

Salant, Yuval; Rubinstein, Ariel

doi:10.1111/j.1467-937x.2008.00510.x

Cited by 233 publications

(44 citation statements)

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“… Another approach allows for context dependence by considering extended choice situations where behaviour can depend on unspecified ancillary conditions or frames (Salant and Rubinstein, ; Bernheim and Rangel, ). While information effects can explain some context dependence (Sen, ), they cannot explain many systematic violations of IIA (Tversky and Simonson, ).…”

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confidence: 99%

Rationalising Choice with Multi-self Models

Ambrus

Rozen

2014

Econ J

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This article shows that when multiple selves' preferences are aggregated into a decision, even if the researcher has a fully specified theory of how preferences get aggregated, there are typically no testable implications without restricting the number of selves. This points to the importance of collecting reliable information on the number of selves in interpersonal and intrapersonal decision -making contexts. We establish the result through a linear relationship between the number of selves and the set of choice functions an aggregator is guaranteed to rationalise. The latter relates to a choice function's number of independence of irrelevant alternatives violations, a new measure of irrationality.Since the seminal work of May (1954), a growing number of papers have proposed models of multi-self decision making, with the primary motivation of accommodating context-dependent behaviour (thereby relaxing the axiom of independence of irrelevant alternatives (IIA), which requires that if an alternative is chosen from a set, it is also chosen from any subset in which it is contained). 1,2 Formal models of multi-self decision making include among others -

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confidence: 99%

Rationalising Choice with Multi-self Models

Ambrus

Rozen

2014

Econ J

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“…In Salant and Rubinstein's (2008) terms we would say that c SCF (O|A) is an example of a salient consideration function. 22 Interestingly, this implies that violations of WARP can take place only when the DM mixes two or more frames O.…”

Section: Choice With Framesmentioning

confidence: 99%

“…Since according to Rubinstein and Salant's (2006) domain the DM examines alternatives one by one, then it is impossible to infer the ranking between satisfactory alternatives. Salant and Rubinstein (2008) propose a framework called choice with frames according to which the choice function depends not only on the budget set, but also on some observable information, called frame, which is irrelevant from a standard viewpoint. Formally, a choice problem with frames is a pair (A, f), where A ∈ P(X) is a budget set and f ∈ F is a frame in the set of frames.…”

Section: Relationships With Other Modelsmentioning

confidence: 99%

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Satisficing choice procedures

Papi

2012

Journal of Economic Behavior & Organization

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a b s t r a c tA challenging issue in modern choice theory is how to enrich the kind of data available to the researcher along with our understanding of the decision-making process. We propose an axiomatic characterization of the 'satisficing' heuristic under various informational structures. In particular we examine the cases in which search behavior is both observable, partially observable, and unobservable. We also investigate behavioral definitions of preference and satisfaction and establish uniqueness results. Finally, we relate our framework to several well-known existing models.

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“…Our experiment can be described in terms of the choice-with-frames model proposed by Salant and Rubinstein (2008) that formalises and generalises the concept of framing effects (Tversky and Kahneman 1981). Let X denote a grand set of multi-attribute alternatives and S a collection of non-empty subsets of X .…”

Section: The Theoretical Frameworkmentioning

confidence: 99%

Does inducing choice procedures make individuals better off? An experimental study

Mittone

Papi

2017

Theory Decis

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Over the years the psychological and economic literature on multi-attribute individual decision-making has focused its attention on examining what class of heuristics better describes subjects' behaviour. In contrast, motivated by the proliferation of online choice platforms, we investigate whether inducing subjects to use holistic vs. characteristic-based search (CBS) procedures has an effect on the quality of their decision by proposing a between-subject experiment involving an innovative visual choice task. We find that encouraging subjects to use CBS heuristics as opposed to holistic ones makes them better off. We also examine how subjects' performance is related with complexity, time pressure, and random choice by running simulations and link our results to the related literature.We would like to thank Marco Tecilla for excellent computer programming. We are extremely grateful to an anonymous referee for her/his support to our paper, the many insightful comments, and the valuable suggestions on the research program. We also thank Miguel Costa-Gomes, Paola Manzini, Ariel Rubinstein, the participants to the 2016 International Meeting on Experimental and Behavioral Social Sciences (Rome), the seminar audiences at the universities of Aberdeen, St Andrews and Trento and the editor of this journal. Financial support from the University of Trento's core funding is gratefully acknowledged. Any error is our own responsibility. Electronic supplementary material The online version of this article

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(A,f): Choice with Frames¹

Cited by 233 publications

References 10 publications

Rationalising Choice with Multi-self Models

Rationalising Choice with Multi-self Models

Satisficing choice procedures

Does inducing choice procedures make individuals better off? An experimental study

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