We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...

We model a boundedly rational agent who suffers from limited attention. The agent considers each feasible alternative with a given (unobservable) probability, the attention parameter, and then chooses the alternative that maximises a preference relation within the set of considered alternatives....

We model a boundedly rational agent who suffers from limited attention. The agent considers each feasible alternative with a given (unobservable) probability,the attention parameter, and then chooses the alternative that maximises a preference relation within the set of considered alternatives....

We extend the results on the cumulative distribution function and the expectation of the expenditure function in additive random utility models to cases of imperfect before-after correlation of the random terms, expenditure unrestricted in sign, and changing choice set. The results are of...

Many microeconometric models of discrete choice include alternative-specific constants meant to account for (possibly besides other factors) the density or accessibility of particular types of alternatives. A notable area of application is labour supply, where for example part-time jobs vs....