Shleifer, Andrei; Bordalo, Pedro; Gennaioli, Nicola - National Bureau of Economic Research (NBER) - 2012
We present a theory of context-dependent choice in which a consumer's attention is drawn to salient attributes of goods, such as quality or price. An attribute is salient for a good when it stands out among the good's characteristics, in the precise sense of being furthest away in that good from...