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Choice by Iterative Search
Masatlioglu, Yusufcan - 2009
In many real-life decisions, either information about alternatives is missing, or decision makers have limited cognitive capacity to go through all alternatives. To capture these situations, we propose and axiomatically characterize a new descriptive search model in which a decision maker...
Persistent link: https://www.econbiz.de/10013160298
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Choice by iterative search
Masatlioglu, Yusufcan; Nakajima, Daisuke - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 3, pp. 701-728
When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the idea of consideration sets. Consumers engage in a...
Persistent link: https://www.econbiz.de/10011685228
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Search, Memory, and Choice : An Experiment
Sanjurjo, Adam - 2014
Multiple attribute search is a central feature of economic life: we consider much more than price when purchasing a home, and more than wage when choosing a job. Search behavior in these environments has recently been found to deviate systematically and substantially from optimal sequential...
Persistent link: https://www.econbiz.de/10014143757
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Saving rates and portfolio choice with subsistence consumption
Achury, Carolina; Hubar, Sylwia; Koulovatianos, Christos - 2011
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...
Persistent link: https://www.econbiz.de/10008856389
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Nonlinear prices, homogeneous goods, search
Atayev, Atabek - 2021
We analyze competition on nonlinear prices in homogeneous goods markets with consumer search. In equilibrium firms offer two-part tariffs consisting of a linear price and lump-sum fee. The equilibrium production is socially efficient as the linear price of equilibrium two-part tariffs equals to...
Persistent link: https://www.econbiz.de/10012672138
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Consumer search and stock-out : a laboratory experiment
Kittaka, Yuta; Mikami, Ryo - 2020
We investigate the overall impact of stock-out on individual consumers' information search behavior through both search-theoretic and experimental approaches. As the probability of stock-out increases, search intensity decreases, while the expected number of searches may increase. Such increases...
Persistent link: https://www.econbiz.de/10012291229
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Dynamic pricing with search frictions
García, Daniel - 2017
We study markets for perishable goods with search frictions. Sellers have a single unit of a good and post prices in every period. Buyers engage in costly search to observe prices and match values. In equilibrium trade starts endogenously and the volume of trade increases over time. Under mild...
Persistent link: https://www.econbiz.de/10011761525
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Multiproduct firms, consumer search, and demand heterogeneity
Kittaka, Yuta - 2018
This study constructs a sequential consumer search model with differentiated products in which some consumers search for a single product while the others search for multiple products. When the mass of consumers who demand one of the products decreases, the price for one product decreases while...
Persistent link: https://www.econbiz.de/10011804803
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Income risk, precautionary saving, and loss aversion : an empirical test
Ibanez, Marcela; Schneider, Sebastian O. - 2021
the internal margin, i.e., the strength, of loss aversion, and empirically study the relation between income risk …-income population of Bogotá, characterized by limited financial education and subject to substantial income risk. In line with the … theoretical predictions, we find that an increase in income risk is associated with higher savings for loss-averse individuals …
Persistent link: https://www.econbiz.de/10012438025
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Ex Post Uncertainty and the Consumer Problem
Antoniadou, Elena - 2020
ante the consumer has to balance attitudes to risk with underlying preferences. We study this problem in the context of … determine the utility gambles, and attitudes to risk evaluate these gambles, in order to choose an optimal consumption gamble …. We study how risk aversion interacts with preferences to determine the direction and size of comparative statics effects …
Persistent link: https://www.econbiz.de/10014093348