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Revealed Preference and Choice under Uncertainty
BOSSERT, Walter; SUZUMURA, Kotaro - Département de Sciences Économiques, Université de … - 2010
We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be … generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory …
Persistent link: https://www.econbiz.de/10010933662
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Revealed Preference and Choice under Uncertainty
BOSSERT, Walter; SUZUMURA, Kotaro - Centre Interuniversitaire de Recherche en Économie … - 2010
We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be … generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory …
Persistent link: https://www.econbiz.de/10010616513
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Rational filters
Nosratabadi, Hassan - 2017 - This Draft: October 14, 2017
It has been widely documented that reference points influence the choice. If references affect choice by attracting attention towards an alternative, what can be said about the joint effect of the references? Assuming that references form preferences, or are rational filters, this paper extracts...
Persistent link: https://www.econbiz.de/10011738527
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Revealed preference and choice under uncertainty
Bossert, Walter; Suzumura, Kōtarō - In: SERIEs : Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 247-258
dominance. -- uncertainty ; prospects ; rational choice ; decision theory …We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be … generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory …
Persistent link: https://www.econbiz.de/10009506410
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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
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The devil you know : rational inattention to discrete choices when prior information matters
Pellegrino, Bruno - 2023
, decision makers can be biased, display aversion to prior uncertainty, and thus tend to select choices that are familiar (i … of risk-averse investors who select risky projects in an environment characterized by epistemic uncertainty (risk …
Persistent link: https://www.econbiz.de/10014247316
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Revealed Preference with Limited Consideration
Demuynck, Thomas - 2014
We derive revealed preference tests for models where individuals use consideration sets to simplify their consumption problem. Our basic test provides necessary and sufficient conditions for consistency of observed choices with the existence of consideration set restrictions. The same conditions...
Persistent link: https://www.econbiz.de/10013045726
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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 \textit{monotone threshold representation}: There is an underlying rational benchmark, corresponding to maximization of a utility function $v$, from which the agent's choices...
Persistent link: https://www.econbiz.de/10011671902
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Choice by iterative search
Masatlioglu, Yusufcan; Nakajima, Daisuke - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 3, pp. 701-728
When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the idea of consideration sets. Consumers engage in a...
Persistent link: https://www.econbiz.de/10011685228
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Referential revealed preference theory
Nosratabadi, Hassan - 2017 - This Draft: October 16, 2017
References can influence choice. One of the well-studied cases is when a decoy is added to the menu. However small in magnitude, decoy effect violates the weak axiom of revealed preferences (WARP). In order to explain the small deviation from the classical revealed preference theory, I decompose...
Persistent link: https://www.econbiz.de/10011738532