A million answers to twenty questions: Choosing by checklist

• 成果类型: Article
• 署名作者: Mandler, Michael; Manzini, Paola; Mariotti, Marco
• 署名单位: University of St Andrews; University of London; Royal Holloway University London
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2011.11.012
• 发表日期: 2012
• 页码: 71-92
• 关键词: Bounded rationality; Utility maximization; choice function; Lexicographic utility

摘要

Several decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two approaches are nearly equivalent. Since the number of preference discriminations that an agent can make increases exponentially in the number of properties used, checklists provide a rapid procedural basis for utility maximization. (C) 2011 Elsevier Inc. All rights reserved.