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Kaiser, Karen - 2010

This paper analyzes a boundedly rational decision maker who is uncertain about his preference and faces the following …-off there is an optimal number of goods that the decision maker wants to analyze before making his final choice. The choice of … with good consumer service can be a signal for high quality of the store. -- Decision making ; Bounded rationality ; Choice …

Persistent link: https://www.econbiz.de/10003962118

Quality of Mass Goods and the Problem of the Representative Consumer

Moszoro, Mariano - 2010

Most economic models assume the existence of a representative consumer with mean preferences, which is an obvious simplification. Consumers unveil their heterogeneous preferences through continual choices over goods and their characteristics. However, there is a limit to product segmentation:...

Persistent link: https://www.econbiz.de/10014216303

Households, Markets and Public Choice

Gersbach, Hans - 2014

We develop a model that combines competitive exchange of private commodities across endogenously formed groups with public good provision and global collective decisions. There is a tension between local and global collective decisions. In particular, we show that group formation and collective...

Persistent link: https://www.econbiz.de/10013047312

Identifying structural models of committee decisions with heterogeneous tastes and ideological bias

An, Yonghong; Tang, Xun - 2013

Persistent link: https://www.econbiz.de/10010387454

Social influences towards conformism in economic experiments

Heap, Shaun Hargreaves - 2014

This paper reviews some of the economic experimental evidence on conformism. There is nothing to match the early psychology experiments where subjects were often swayed by the behaviour of others to an extraordinary degree, but there is plenty of evidence of conformism. This seems built-in to...

Persistent link: https://www.econbiz.de/10010230894