Expanding and confusing space of alternatives: A case for lexicographic preferences

This paper characterizes a general class of lexicographic preferences with a new set of axioms on the product topological space of attributes where each attribute is a topological space generated by a linear order. The classes of preferences that the paper characterizes are semi-lexicographic and un...

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Bibliographic Details
Published in:Journal of mathematical psychology 2022-04, Vol.107, p.102651, Article 102651
Main Authors: Goswami, Mridu Prabal, Mitra, Manipushpak, Sen, Debapriya
Format: Article
Language:English
Subjects:
Lexicographic preferences
Maximizers
Order topology
Satisficing
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Summary:This paper characterizes a general class of lexicographic preferences with a new set of axioms on the product topological space of attributes where each attribute is a topological space generated by a linear order. The classes of preferences that the paper characterizes are semi-lexicographic and uniformly semi-lexicographic. Specifically, a transitive uniformly semi-lexicographic preference is lexicographic. We also provide behavioral motivations for our axioms. •We consider a consumer who is confused about the best choice.•The consumer contemplates what would have been a better one after going over a lot of choices and this makes him unhappy.•For various reasons, consumer is unable to take into consideration all the attributes of the choices.•He may ignore some of the attributes completely or consider them sequentially.•This kind of behavior is manifested in lexicographic preferences.
ISSN:0022-2496
1096-0880
DOI:10.1016/j.jmp.2022.102651