Stochastic choice with bounded processing capacity

Authors

Thierry Marchant, Universiteit Gent
Arunava Sen, Indian Statistical Institute (Delhi Centre)

Article Type

Research Article

Publication Title

Journal of Mathematical Psychology

Abstract

We propose and characterize a class of stochastic decision functions for a decision-maker who has a capacity for processing at most k-alternatives at a time. When faced with a menu containing more than k alternatives, she randomly chooses a sub-menu of size k with uniform probability and selects the best alternative according to a strict ordering ≻. For smaller menus, she chooses the best alternative according to ≻.

DOI

https://10.1016/j.jmp.2023.102771

Publication Date

6-1-2023

Comments

Open Access, Green

Recommended Citation

Marchant, Thierry and Sen, Arunava, "Stochastic choice with bounded processing capacity" (2023). Journal Articles. 3703.
https://digitalcommons.isical.ac.in/journal-articles/3703