Similar Search Results

Hsee, Christopher K. - 2010

To maximize happiness, one could either improve desired external outcomes (e.g., wealth) or optimize the relationship between desired external outcome and happiness without improving the outcome per se. Economics focuses on the first method. The present chapter advocates a science about the...

Persistent link: https://www.econbiz.de/10013138747

Lattices, Lotteries and Choice

Antoniadou, Elena - 2010

substitutable in preferences, not only attitudes to risk but also underlying preferences determine choice and therefore, a complex … interaction between preferences and attititude to risk must be addressed in order to establish monotonicity of choice. Comparative … implied by the standard conditions based on the Arrow-Pratt measure of absolute risk aversion in the univariate case. The case …

Persistent link: https://www.econbiz.de/10013147375

Search Costs in Consumer Product Choice : Does Delaying the Provision of Information Increase Choice Efficiency?

Sonntag, Axel - 2013

Using online price comparison and shopping platforms makes experiencing slow connections, lags and waiting times for information an unfortunate reality. However, little attention has been paid to analyzing the effects of delayed provision of information on product choice behavior. In this...

Persistent link: https://www.econbiz.de/10013082980

Coarse Revealed Preference

Hu, Gaoji - 2019

We identify necessary and sufficient conditions under which a coarse data set can be coarsely rationalized by a linear order (or weak order). The conditions are easy to check, and efficient algorithms are provided. We apply our theory to investigate the observable restrictions of several...

Persistent link: https://www.econbiz.de/10012896567

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

Fitting parsimonious household-portfolio models to data

Hubar, Sylwia; Koulovatianos, Christos; Li, Jian - 2014

, creating endogenous risk-aversion differences across rich and poor. A closed-form solution for the model with insurable labor …-income risk serves as calibration guide for numerical simulations with uninsurable labor-income risk. …

Persistent link: https://www.econbiz.de/10010428168

Enjoyment takes time : some implications for choice theory

Nisticò, Sergio - 2014

The paper suggests that casting the choice problem in terms of alternative time-consuming activities can foster the fruitful cross-fertilization between economics and psychology along the lines suggested by Scitovsky in the Joyless Economy. The first part emphasizes how mainstream, utility-based...

Persistent link: https://www.econbiz.de/10010411137

Markets for heterogeneous products : a boundedly rational consumer model

Valente, Marco - 2009

The paper is based on the acknowledgement that properties of markets stemming from features of demand are too frequently overlooked in the economic literature, and a re-balancing is necessary to properly account for theoretical and empirical phenomena. We sustain that one of the most relevant...

Persistent link: https://www.econbiz.de/10008732415

Regular prices and sales

Heidhues, Paul; Kőszegi, Botond - 2010

We study the properties of a profit-maximizing monopolist's optimal price distribution when selling to a loss-averse consumer, where (following Köszegi and Rabin (2006)) we assume that the consumer's reference point is her recent rational expectations about the purchase. If it is close to...

Persistent link: https://www.econbiz.de/10008903623

Enjoyment takes time : some implications for choice theory

Nisticò, Sergio - 2015

Persistent link: https://www.econbiz.de/10010485641