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Social Choice and Welfare

, Volume 45, Issue 4, pp 729–744 | Cite as

Choosing two finalists and the winner

  • Gent Bajraj
  • Levent ÜlküEmail author
Article

Abstract

We study a class of boundedly rational choice functions which operate as follows. The decision maker uses two criteria in two stages to make a choice. First, she shortlists the top two alternatives, i.e. two finalists, according to one criterion. Next, she chooses the winner in this binary shortlist using the second criterion. The criteria are linear orders that rank the alternatives. Only the winner is observable. We study the behavior exhibited by this choice procedure and provide an axiomatic characterization of it. We leave as an open question the characterization of a generalization to larger shortlists.

JEL Classification

D0 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2015

Authors and Affiliations

  1. 1.Department of EconomicsPennsylvania State UniversityState CollegeUSA
  2. 2.Department of Economics and CIEITAMMexico CityMexico

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