This paper studies when stochastic choices are consistent with behavior from Bayesian expected utility maximization and information acquisition. This is a limited dataset since other characterization require state-dependent stochastic choice data. The conditions that characterize this behavior...

This paper studies partial identi cation of latent complementarity in an optimizing model with two goods and binary quantities of each good (buy / don't buy). We provide simple bounds on the fraction of individuals for whom goods are complements/substitutes. Despite using only involve marginal...

This paper takes seriously that the quasilinear utility model is an approximation. We interpret approximation error as arising because individuals are satisficers. We investigate the consequences of individual satisficng for modelling aggregate demand, providing an approximate aggregation...

This note studies whether any set of finitely supported mixed strategies can be represented as the unique Nash equilibrium of a game. This note shows that if strategy spaces are metric spaces containing infinitely many points, then any set of finitely supported mixed strategies can be...

Many experimental studies document choice overload where individuals often fail to make a choice as menus increase in size or complexity. However, few models can describe choice overload. This paper proposes and characterizes a simple extension to the Luce rule where alternative values are...

Experimental work regularly finds that individual choices are not rationalized. Nonetheless, recent work shows that data collected from many individuals can be stochastically rationalized by a distribution of well-defined preferences. We study the relationship between deterministic and...

This laboratory experiment examines whether individuals follow Nash equilibrium predictions in the two-player one-shot complete information entry game of Bresnahan and Reiss (1990) while varying payoff parameters. This entry game is regularly used in empirical industrial organization, but has...

Experiments on revealed preference often use budget sets that are randomly and independently drawn according to some criteria for each participant. However, this means that the budget sets faced by different individuals are not the same. This paper proposes a method to control for these...