Manzini, Paola and Mariotti, Marco (2015) State dependent choice. Social Choice and Welfare, 45 (2). pp. 239-268. ISSN 0176-1714
![]() |
PDF
- Accepted Version
Download (6MB) |
Abstract
We propose a theory of choices that are influenced by the psychological state of the agent. The central hypothesis is that the psychological state controls the urgency of the attributes sought by the decision maker in the available alternatives. While state dependent choice is less restricted than rational choice, our model does have empirical content, expressed by simple "revealed preference" type of constraints on observable choice data. We demonstrate the applicability of simple versions of the framework to economic contexts. We show in particular that it can explain widely researched anomalies in the labour supply of taxi drivers.
Item Type: | Article |
---|---|
Schools and Departments: | University of Sussex Business School > 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: | Paola Manzini |
Date Deposited: | 07 Nov 2017 11:47 |
Last Modified: | 02 Jul 2019 17:33 |
URI: | http://sro.sussex.ac.uk/id/eprint/71036 |
View download statistics for this item
📧 Request an update