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Games with switching costs and endogenous references
Guney, Begum; Richter, Michael - In: Theoretical economics : TE ; an open access journal in … 17 (2022) 2, pp. 617-650
We introduce a game-theoretic model with switching costs and endogenous references. An agent endogenizes his reference strategy and then, taking switching costs into account, he selects a strategy from which there is no profitable deviation. We axiomatically characterize this selection procedure...
Persistent link: https://www.econbiz.de/10013273768
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On rational choice and the representation of decision problems
Oliva, Paulo; Zahn, Philipp - In: Games 12 (2021) 4, pp. 1-21
, simplifying their choice process. For instance, in the case of a list he or she can use the order in which alternatives are … represented to make their choice. In this paper, we model representations and decision procedures operating on them. We show that … choice procedures are related to classical choice functions by a canonical mapping. Using this mapping, we can ask whether …
Persistent link: https://www.econbiz.de/10012698098
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Parallel inverse aggregate demand curves in discrete choice models
Kroft, Kory; Leal-Vizcaíno, René; Notowidigdo, Matthew J. - In: Economic theory 74 (2022) 3, pp. 923-946
This paper highlights a previously unnoticed property of commonly-used discrete choice models, which is that they …
Persistent link: https://www.econbiz.de/10013442105
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Costly switching from a status quo
Guney, Begum; Richter, Michael - In: Journal of economic behavior & organization : JEBO 156 (2018), pp. 55-70
Persistent link: https://www.econbiz.de/10012102359
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Monotone threshold representations
Frick, Mira - In: Theoretical economics : TE ; an open access journal in … 11 (2016) 3, pp. 757-772
Motivated by the literature on ``choice overload'', we study a boundedly rational agent whose choice behavior admits a … of the model, extending familiar characterizations of rational choice. We classify monotone threshold representations as … satisficing'' model as well as Fishburn (1975) and Luce's (1956) model of choice behavior generated by a semiorder. We …
Persistent link: https://www.econbiz.de/10011671902
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The evolution of networks and local public good provision : a potential approach
Kinateder, Markus; Merlino, Luca Paolo - In: Games 12 (2021) 3, pp. 1-12
In this paper, we propose a game in which each player decides with whom to establish a costly connection and how much local public good is provided when benefits are shared among neighbors. We show that, when agents are homogeneous, Nash equilibrium networks are nested split graphs....
Persistent link: https://www.econbiz.de/10012591497
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Social activity and network formation
Baetz, Oliver - In: Theoretical economics : TE ; an open access journal in … 10 (2015) 2, pp. 315-340
This paper develops a simple model in which a social hierarchy emerges endogenously when agents form a network for complementary interaction (``activity''). Specifically, we assume that agents are ex ante identical and their best response activity, as well as their value function, increases...
Persistent link: https://www.econbiz.de/10011673491
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Enjoyment takes time : some implications for choice theory
Nisticò, Sergio - 2015
The paper suggests that casting the choice problem in terms of alternative time-consuming activities can foster the …. The first part emphasizes how mainstream, utility-based choice theory has eradicated "time" from the analysis, in contrast …
Persistent link: https://www.econbiz.de/10010485641
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Sociology of sociology : strengthening the role of social sciences as a new priority of climate and sustainability policy
Strzałkowski, Andrzej - In: Economic and environmental studies : a journal for … 16 (2016) 3, pp. 453-468
Today, there are a lot of studies on climate change and sustainability from social sciences’ perspectives. Achievements of sociology, psychology or political sciences can be extremely helpful in designing, adopting, implementing and evaluating of effective climate and sustainability policy....
Persistent link: https://www.econbiz.de/10011565579
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Determinants of the possibilities by investors' risk-taking : empirical evidence from Vietnam
Linh Duy Bui; Trung Chi Le; Anh Huynh Ngoc Quang; Wong, … - In: Cogent economics & finance 9 (2021) 1, pp. 1-23
This paper focuses on determining the factors influencing investors' risk-taking through empirical evidence from Vietnam. This study investigates risk perception, expected return and herding behavior, and other determinants such as historical volatility and subjective financial risk attitude;...
Persistent link: https://www.econbiz.de/10013183902