Manzini et al-2014-Econometrica.pdf (233.16 kB)
Stochastic choice and consideration sets
journal contribution
posted on 2023-06-09, 08:41 authored by Paola Manzini, Marco MariottiWe 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 maximizes a preference relation within the set of considered alternatives. We show that this random choice rule is the only one for which the impact of removing an alternative on the choice probability of any other alternative is asymmetric and menu independent. Both the preference relation and the attention parameters are identified uniquely by stochastic choice data.
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- Published
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- Published version
Journal
EconometricaISSN
0012-9682Publisher
Econometric SocietyExternal DOI
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3Volume
82Page range
1153-1176Department affiliated with
- Economics Publications
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- Yes
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- Yes
Legacy Posted Date
2017-11-07First Open Access (FOA) Date
2017-11-07First Compliant Deposit (FCD) Date
2017-11-07Usage metrics
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