Path-independent consideration (Q2052507): Difference between revisions

Summary: 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 \textit{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 [the second author et al., ``Revealed attention'', Am. Econ. Rev. 102, No. 5 2183--2205 (2012; \url{doi:10.1257/aer.102.5.2183})] and [the first author et al., J. Econ. Theory 170, 70--85 (2017; Zbl 1400.91140)], 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 the above cited papers) is necessary but not sufficient.