Consumer choice and revealed bounded rationality

Manzini, Paola and Mariotti, Marco (2008) Consumer choice and revealed bounded rationality. Economic Theory, 41 (3). pp. 379-392. ISSN 0938-2259

[img] PDF - Accepted Version
Download (221kB)

Abstract

We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer behavior mirroring the classical one for utility maximization.

Item Type: Article
Keywords: Bounded rationality, Revealed preference, Consumer choice
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: H Social Sciences > HB Economic theory. Demography > HB0131 Methodology > HB0135 Mathematical economics. Quantitative methods Including econometrics, input-output analysis, game theory
Depositing User: Professor Paola Manzini
Date Deposited: 07 Nov 2017 17:05
Last Modified: 07 Nov 2017 17:05
URI: http://sro.sussex.ac.uk/id/eprint/71004

View download statistics for this item

📧 Request an update