Rational Shortlist Method with refined rationales

We study a shortlisting model of choice where a decision-maker first applies her inherent rationale and then follows with a sequence of refined rationales that are triggered by inferior alternatives in a menu. Our decision-maker exhausts all the possible paths of sequential filtering. This model captures choice anomalies in multi-attribute choice space where shortlisting seems to be a natural heuristic, and where existing literature comes short.

Automated summary

This study introduces a shortlisting model to explain choice anomalies in multi-attribute choice space, by analyzing the decision-making process of individuals and their use of sequential filtering.