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, Using a modified Houtman-Maks index, they identify from which preference order each observed choices are and therefore to which model decision makers are the closest. 42.7% of the data is closest to traditional utility maximization. The other models explain 21% to rational indecision and the rest, They were 28% of utility maximizers and 5% of rationally indecisive decision makers
, Deferring was costly, and a significant proportion of decision makers postponed their choice. Deferring offered the possibility to look at each headphone and test them. One question raised in this experiment is whether they have investigated incomplete preferences or intransitive indifference. Indeed, the alternatives are similar to each other, and the main reason for postponing choice, Their experiment is closed to this one, as subjects chose in the powerset of five alternatives (different headphones close in values)
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, Partial Order Rationalizability
, characterize partial orders rationalizability by three axioms: outcast 29 , concordance 30 , and heredity 31, 2007.
, (?) If an alternative is chosen in a set, it is also chosen in any subset
, The axiom has various names in the literature: ? in Sen, 1954.
, Heredity is also known as Sen (1971)'s ?, Chernoff (1954)'s postulate 4, Arrow (1959)'s condition 3
, A choice correspondence satisfies concordance, i.e., ?, if and only if any alternative chosen in two different sets is chosen in the unions: for all
, ? is a bottom-up condition: choices in small sets constrain choices in large sets
, A choice correspondence satisfies outcast if and only any subset S ? of S is made of alternatives that are not chosen in S, then removing these alternatives from S does not change the chosen alternatives
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