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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/10009655796
We introduce and study the problem of manipulation of choice behavior. In a class of two-stage models of decision making, with the agent's choices determined by three psychological variables, we imagine that a subset of these variables can be selected by a manipulator. To what extent does this...
Persistent link: https://www.econbiz.de/10010278596
process all available information. An agent might be constraint to pay attention (recall) and consider only parts of her … relevant for a current problem. For the specific situation that agents (are able to) always pay attention to all available …
Persistent link: https://www.econbiz.de/10010427189
process all available information. An agent might be constraint to pay attention (recall) and consider only parts of her … relevant for a current problem. For the specific situation that agents (are able to) always pay attention to all available …
Persistent link: https://www.econbiz.de/10010403098
Using the techniques of revealed preference analysis, we study a two-stage model of choice behavior. In the first stage, the decision maker maximizes a menu-dependent binary relation encoding preferences that are imperfectly perceived. In the second, a menu-independent binary relation is...
Persistent link: https://www.econbiz.de/10011381006
Traditionally, economists make a sharp distinction between stated and revealed preferences, viewing the latter as more fully meeting the assumptions of economic analysis. Here, we consider one form of empirical evidence regarding this belief: the consistency of choices in stated and revealed...
Persistent link: https://www.econbiz.de/10008696007
question. -- attention ; choice function ; revealed preference ; satisficing ; threshold …
Persistent link: https://www.econbiz.de/10009312203
Using the techniques of revealed preference analysis, we study a two-stage model of choice behavior. In the first stage, the decision maker maximizes a menu-dependent binary relation encoding preferences that are imperfectly perceived. In the second, a menu-independent binary relation is...
Persistent link: https://www.econbiz.de/10010472896
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/10010423797
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