Similar Search Results

Bleile, Jörg - 2014

We provide an axiomatic approach to a belief formation process in an informational environment characterized by limited, heterogenous and differently precise information. For a list of previously observed cases an agent needs to express her belief by assigning probabilities to possible outcomes....

Persistent link: https://www.econbiz.de/10010356678

The (neural) dynamics of stochastic choice

Webb, Ryan - In: Management science : journal of the Institute for … 65 (2019) 1, pp. 230-255

Persistent link: https://www.econbiz.de/10011991399

Random utility and limited consideration

Aguiar, Victor H.; Boccardi, Maria Jose; Kashaev, Nail; … - In: Quantitative economics : QE ; journal of the … 14 (2023) 1, pp. 71-116

The random utility model (RUM, McFadden and Richter (1990)) has been the standard tool to describe the behavior of a population of decision makers. RUM assumes that decision makers behave as if they maximize a rational preference over a choice set. This assumption may fail when consideration of...

Persistent link: https://www.econbiz.de/10014306354

Reference-dependent consumption plans

Kőszegi, Botond; Rabin, Matthew - In: The American economic review 99 (2009) 3, pp. 909-936

Persistent link: https://www.econbiz.de/10003863213

Variety aversion and information overload : an experimental approach

Kaiser, Karen - 2011

This paper analyzes the effect of information overload on preference or aversion for variety. According to the model, a rational decision maker who suffers from information overload, faces a two-stage decision process, and is choosing from a set of unknown goods will find it optimal at some...

Persistent link: https://www.econbiz.de/10008991845

A model of reference-dependent belief updating

Maier, Johannes K.; König, Clemens - 2016

gains and losses against the belief's objective performance. Consistent with empirical evidence, belief updating in this … model is conservative and can be asymmetric, so that bad news is updated more conservatively than good news. These updating … are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …

Persistent link: https://www.econbiz.de/10011557745

Categorization based belief formations

Bleile, Jörg - 2014

An agent needs to determine a belief over potential outcomes for a new problem based on past observations gathered in her database (memory). There is a rich literature in cognitive science showing that human minds process and order information in categories, rather than piece by piece. We assume...

Persistent link: https://www.econbiz.de/10010403093

Limited attention in case-based belief formations

Bleile, Jörg - 2014

An agent wants to derive her belief over outcomes based on past observations collected in her database (memory). There is well establish evidence in the psychology and marketing literature that agents consistently fail (or choose not) to process all available information. An agent might be...

Persistent link: https://www.econbiz.de/10010403098

Consumer search costs and preferences on the internet

Jolivet, Grégory; Turon, Hélène - 2014

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

Search Costs in Consumer Product Choice : Does Delaying the Provision of Information Increase Choice Efficiency?

Sonntag, Axel - 2013

Using online price comparison and shopping platforms makes experiencing slow connections, lags and waiting times for information an unfortunate reality. However, little attention has been paid to analyzing the effects of delayed provision of information on product choice behavior. In this...

Persistent link: https://www.econbiz.de/10013082980

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