Theoretical Economics 8 (2013), 775–800
Vadim Cherepavov, Timothy Feddersen, Alvaro Sandroni
In 1908 the Welsh neurologist and psychoanlayst Ernest Jones described human beings as rationalizers whose behavior is governed by "the necessity of providing an explanation." We construct a formal and testable model of rationalization in which a decision maker selects her preferred alternative from among those that she can rationalize.
Keywords: Rationalization, revealed preferences
JEL classification: D01
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