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dc.contributor.authorGerasimou, Georgios
dc.date.accessioned2014-03-19T15:31:01Z
dc.date.available2014-03-19T15:31:01Z
dc.date.issued2013-05
dc.identifier.citationGerasimou , G 2013 ' A behavioural model of choice in the presence of decision conflict ' School of Economics & Finance Discussion Paper , no. 1302 , University of St Andrews .en
dc.identifier.issn0962-4031
dc.identifier.otherPURE: 104364739
dc.identifier.otherPURE UUID: de9d06d4-5684-4f2b-9ec9-d580265df9be
dc.identifier.urihttp://hdl.handle.net/10023/4532
dc.identifier.urihttp://ideas.repec.org/p/san/wpecon/1302.htmlen
dc.description.abstractThis paper proposes a model of choice that does not assume completeness of the decision maker’s preferences. The model explains in a natural way, and within a unified framework choice when preference-incomparable options are present, four behavioural phenomena: the attraction effect, choice deferral, the strengthening of the attraction e.ect when deferral is permissible, and status quo bias. The key element in the proposed decision rule is that an individual chooses an alternative from a menu if it is worse than no other alternative in that menu and is also better than at least one. Utility-maximising behaviour is included as a special case when preferences are complete. The relevance of the partial dominance idea underlying the proposed choice procedure is illustrated with an intuitive generalisation of weakly dominated strategies and their iterated deletion in games with vector payoffs.en
dc.format.extent32en
dc.language.isoeng
dc.publisherUniversity of St Andrews
dc.relation.ispartofseriesSchool of Economics & Finance Discussion Paperen
dc.rights(c) 2013 the authoren
dc.subjectChoice with incomplete preferencesen
dc.subjectattraction effecten
dc.subjectstatus quo biasen
dc.subjectgames with payoff vectorsen
dc.subjectiterative dominanceen
dc.subjectHB Economic Theoryen
dc.subject.lccHBen
dc.titleA behavioural model of choice in the presence of decision conflicten
dc.typeWorking or discussion paperen
dc.description.versionPostprinten
dc.contributor.institutionUniversity of St Andrews. School of Economics and Financeen


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