Showing 1 - 10 of 13
In an extremely interesting paper, Palacios-Huerta and Volij (2004) [PV] introduce the axiomatic method to the problem of how to rank academic journals on the basis of their mutual citations. They characterize the invariant method as the only one satisfying a list of five appealing properties....
Persistent link: https://www.econbiz.de/10010318887
We propose a novel method to model an agent who is imperfectly attentive in the sense that she may consider only some of the alternatives available. Our methodology departs from the standard 'revealed preference' one: we make plausible assumptions on the values to the imperfectly attentive agent...
Persistent link: https://www.econbiz.de/10011381005
We consider two-stage shortlisting procedures in which the menu of alternatives is first pruned by some process or criterion and then a binary relation is maximized. Given a particular first-stage process, our main result supplies a necessary and sufficient condition for choice data to be...
Persistent link: https://www.econbiz.de/10010368178
Several recent models of choice build on the idea that decision makers are more likely to choose an option if its attributes stand out compared to the attributes of the available alternatives. One example is the model of focusing by Köszegi and Szeidl (2013) where decision makers focus...
Persistent link: https://www.econbiz.de/10013208758
In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more variables are exogenously known. Our results supply necessary and...
Persistent link: https://www.econbiz.de/10011796514
changing preferences and focusing attention. The resulting Limited Attention Status Quo Bias model can explain both the finding … both attention and preference channels are necessary to explain the impact of status quo on choice. …
Persistent link: https://www.econbiz.de/10011526710
attention in ways that distort decision-making and trap people in poverty? We examine these issues using real-life shocks faced … reallocate attention to scarce-resource tasks. These results broaden our understanding of the impacts of uncertainty by exploring …
Persistent link: https://www.econbiz.de/10012166458
We propose a model of competitive attention based on two key premises: i) People have limited information processing …
Persistent link: https://www.econbiz.de/10012513583
information on whether the searching worker is employed or unemployed as a hiring criterion. We show theoretically that ranking by …. More prevalent ranking in Europe compared to the US - because of more rigid wage structures etc. - could potentially help …
Persistent link: https://www.econbiz.de/10010321725
The ranking of colleges varies both across methods and model specifications. Still, earnings equations tend to be …. Moreover, there are no systematic differences in the ranking of colleges dependent on the age of the college, i.e. old versus … new colleges. Although ranking by earnings equations provide some information about the relation to earnings, endogeneity …
Persistent link: https://www.econbiz.de/10010273978