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Article

Path-Independent Consideration

1
Independent Researcher, Washington, DC 20015, USA
2
Department of Economics, University of Maryland, College Park, MD 20742, USA
3
Department of Economics, Otaru University of Commerce, Otaru 047-8501, Japan
*
Author to whom correspondence should be addressed.
Academic Editor: James M. Joyce
Received: 12 January 2021 / Revised: 10 February 2021 / Accepted: 19 February 2021 / Published: 2 March 2021
(This article belongs to the Special Issue Limited Attention)
In the context of choice with limited consideration, where the decision-maker may not pay attention to all available options, the consideration function of a decision maker is path-independent if her choice cannot be manipulated by the presentation of the choice set. This paper characterizes a model of choice with limited consideration with path independence, which is equivalent to a consideration function that satisfies both the attention filter and consideration filter properties from Masatlioglu et al. (2012) and Lleras et al. (2017), respectively. Despite the equivalence of path-independent consideration with the consideration structures from these two papers, we show that, to have a choice with limited consideration that is path-independent, satisfying both axioms on the choice function that characterize choice limited consideration with attention and consideration filters unilaterally (from Masatlioglu et al. (2012) and Lleras et al. (2017)) is necessary but not sufficient. View Full-Text
Keywords: revealed preferences; limited attention; consideration set; choice reversals; path independence revealed preferences; limited attention; consideration set; choice reversals; path independence
MDPI and ACS Style

Lleras, J.; Masatlioglu, Y.; Nakajima, D.; Ozbay, E. Path-Independent Consideration. Games 2021, 12, 21. https://0-doi-org.brum.beds.ac.uk/10.3390/g12010021

AMA Style

Lleras J, Masatlioglu Y, Nakajima D, Ozbay E. Path-Independent Consideration. Games. 2021; 12(1):21. https://0-doi-org.brum.beds.ac.uk/10.3390/g12010021

Chicago/Turabian Style

Lleras, Juan, Yusufcan Masatlioglu, Daisuke Nakajima, and Erkut Ozbay. 2021. "Path-Independent Consideration" Games 12, no. 1: 21. https://0-doi-org.brum.beds.ac.uk/10.3390/g12010021

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