Showing 1 - 10 of 221
We propose an extension of Tversky's lexicographic semiorder to a model of boundedly rational choice. We explore the … connection with sequential rationalisability of choice, and we provide axiomatic characterisations of both models in terms of … observable choice data. -- Lexicographic semiorders ; bounded rationality ; revealed preference ; choice …
Persistent link: https://www.econbiz.de/10003818077
We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after … paradoxically express their preference through choice more truthfully than more rational agents. -- Discrete choice ; random utility …
Persistent link: https://www.econbiz.de/10003976811
We analyse consumers' search and purchase decisions on an Internet platform. Using a rich dataset on all adverts posted and transactions made on a major French Internet platform (PriceMinister), we show evidence of substantial price dispersion among adverts for the same product. We also show...
Persistent link: https://www.econbiz.de/10010436160
We model a general choice environment via probabilistic choice correspondences, with (possibly) incomplete domain and … infinite universal set of alternatives. We offer a consistency restriction regarding choice when the feasible set contracts … regularity. We identify a restriction on the domain of the stochastic choice correspondence, under which contraction consistency …
Persistent link: https://www.econbiz.de/10003923591
We develop a novel framework to analyze the structural implications of the marriage market for household consumption patterns. We start by defining a revealed preference characterization of efficient household consumption when the marriage is stable. In particular, stability means that the...
Persistent link: https://www.econbiz.de/10010337411
negative unintended consequences. To explore ways to mitigate these consequences, we conducted a discrete-choice experiment in …
Persistent link: https://www.econbiz.de/10012255748
to the lack of transparent products and choice architecture, redistribution remains limited. This paper uses a stated …
Persistent link: https://www.econbiz.de/10012118310
Subjective well-being (SWB) data is increasingly used to perform welfare analyses. Interpreted as 'experienced utility', SWB has recently been compared to 'decision utility' using specific experiments, most often based on stated preferences. Results point to an overall congruence between these...
Persistent link: https://www.econbiz.de/10011709615
A growing literature in economics uses subjective well-being data collected in surveys as a proxy for utility. Environmental economists have combined these data with the public goods experienced by respondents using a novel non-market valuation approach: the experienced preference approach. In...
Persistent link: https://www.econbiz.de/10014454771
rationality ; procedural rationality ; utility maximization ; choice behavior …
Persistent link: https://www.econbiz.de/10003656945