Optimal selection from a set of offers using a short list

Ramsey, David

doi:10.22367/mcdm.2019.14.05

Cited by 7 publications

(4 citation statements)

References 15 publications

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“…Given that DM2 uses such a strategy, DM1 should choose the length of the short list which maximizes his utility. It is intuitively clear that a short list of length k should include the k offers which are most attractive to DM1 according to the first signal (see Ramsey [25]). DM1 should choose k in order to maximise his utility from the search procedure.…”

Section: Methods Of Empirically Solving the Gamementioning

confidence: 99%

“…To carry out such a strategy, the DM must observe the values of offers, while in order to derive the optimal strategy, knowledge is required regarding the distribution of offers' values given the signal from in the first phase. The model presented here is adapted from the model considered by Ramsey [25] in the framework of a single DM using online and then offline search for a valuable resource. In the first phase, a fixed number, n, of offers are ranked on the basis of initial information.…”

Section: Definitionmentioning

confidence: 99%

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A Game Theoretic Model of Choosing a Valuable Good via a Short List Heuristic

Ramsey¹

2020

Mathematics

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The Internet gives access to a huge amount of data at the click of a mouse. This is very helpful when consumers are making decisions about which product to buy. However, the final decision to purchase is still generally made by humans who have limited memory and perception. The short list heuristic is often used when there are many offers on the market. Searchers first find information about offers via the Internet and on this basis choose a relatively small number of offers to view in real life. Although such rules are often used in practice, little research has been carried out on determining, for example, what the size of the short list should be depending on the parameters of the problem or modelling how the short list heuristic can be implemented when there are multiple decision makers. This article presents a game theoretic model of such a search procedure with two players. These two players can be interpreted, for example, as a couple searching for a flat or a second-hand car. The model indicates that under such a search procedure the roles of searchers should only be divided when the preferences of the players are coherent or there is a high level of goodwill between them. In other cases, dividing the roles leads to a high level of conflict.

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Section: Methods Of Empirically Solving the Gamementioning

confidence: 99%

Section: Definitionmentioning

confidence: 99%

A Game Theoretic Model of Choosing a Valuable Good via a Short List Heuristic

Ramsey¹

2020

Mathematics

Self Cite

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“…The approach presented here addresses some of the shortcomings in the model of Ramsey (2019). Above all, that model does not address the fact that selections are made on the basis of several traits.…”

Section: Introductionmentioning

confidence: 99%

On Creating Shortlists From a Large Database of Offers

Ramsey¹,

Marianski²,

Szczurowski³

et al. 2022

AAK

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“…Ranking and ordering is essential part of the rational choice theory (Arrow 1959;Simon 1956). Later economic research supports the importance of shortlisting procedure for rational decision-making to overcome the "choice overload" (Manzini & Mariotti 2007;Dutta & Horan 2015;Lleras et al 2017;Ramsey 2019;Geng & Özbay 2020, Qin 2021. Building on those effects, the EU ETS shortlist is more straightforward and addressed compared to discrete complex aggregated CO2 emissions indicators.…”

Section: Introductionmentioning

confidence: 99%

The EU ETS Top Ten Polluters List as a Policy Tool of Climate Action Organisations

Зимаков¹

2021

EJSD

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The EU ETS is one of the most important EC instruments to curb CO2 emissions. Various climate action organisations use verified emissions data from EU ETS to calculate top EU polluters lists. These shortlists are actively used in their advocacy strategies as an evidence of national or EU-wide climate policies (under)performance to influence policymaking. However, there is no official EU ETS top ten list released by the EC what weakens the political power of this tool. Addressing possible reasons for EC’s reluctance the paper investigates the correlation between the presence of national enterprises in the EU ETS top ten list and the national climate policy actions over 2008-2019 timeframe. Despite different limitations, the EU ETS top ten is adequately reflecting main developments in national efforts to curb GHG emissions and is pointing out underperforming countries and industries covered by the EU ETS. In the variety of hard and soft EU climate policy instruments, the EU ETS top ten polluters list could feature as an information tool. It is especially important for climate action organizations, providing them with an officially released rating as a common reference point that they could use in their evaluations and political campaigns.

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Optimal selection from a set of offers using a short list

Cited by 7 publications

References 15 publications

A Game Theoretic Model of Choosing a Valuable Good via a Short List Heuristic

A Game Theoretic Model of Choosing a Valuable Good via a Short List Heuristic

On Creating Shortlists From a Large Database of Offers

The EU ETS Top Ten Polluters List as a Policy Tool of Climate Action Organisations

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