Showing 71 - 80 of 343
We introduce and characterize a new class of bargaining solutions: those which can be obtained by sequentially applying two binary relations to eliminate alternatives. As a by-product we obtain as a particular case a partial characterization result by Zhou (Econometrica, 1997) of an extension of...
Persistent link: https://www.econbiz.de/10004976636
Many decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two...
Persistent link: https://www.econbiz.de/10004976637
We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer...
Persistent link: https://www.econbiz.de/10004976638
In this paper we formulate and investigate experimentally a model of how individuals choose between time sequences of monetary outcomes. The theoretical model assumes that a decision-maker uses, sequentially, two criteria to screen options. Each criterion only permits a decision between some...
Persistent link: https://www.econbiz.de/10004976639
In this paper, we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the case for the model-based approach and examine its advantages as well as...
Persistent link: https://www.econbiz.de/10011104662
This important book, written by some of the leading scholars in the field, provides a comprehensive overview of recent advances in coalition theory and presents both the latest theoretical developments and novel applications in the field of economics.
Persistent link: https://www.econbiz.de/10011159602
Classical deÖnitions of complementarity are based on cross price elasticities, and so they do not apply, for example, when goods are free. This context includes many relevant cases such as online newspapers and public attractions. We look for a complementarity notion that does not rely on price...
Persistent link: https://www.econbiz.de/10011164402
Classical definitions of complementarity are based on cross price elasticities, and so they do not apply, for example, when goods are free. This context includes many relevant cases such as online newspapers and public attractions. We look for a complementarity notion that does not rely on price...
Persistent link: https://www.econbiz.de/10011261542
There are many situations in which alternatives ranked by quality wish to be chosen and compete for the imperfect attention of a chooser by selecting their own salience. The chooser may be “tricked" into choosing more salient but inferior alter- natives. We investigate when competitive forces...
Persistent link: https://www.econbiz.de/10011265503
Classical de?nitions of complementarity are based on cross price elasticities, and so they do not apply when goods are free. This context includes many relevant cases such as online newspapers and public facilities. We look for a complementarity notion for free goods that is: behavioural (based...
Persistent link: https://www.econbiz.de/10011115588