CATEGORIZE THEN CHOOSE: BOUNDEDLY RATIONAL CHOICE AND WELFARE

• 成果类型: Article
• 署名作者: Manzini, Paola; Mariotti, Marco
• 署名单位: University of St Andrews
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1111/j.1542-4774.2012.01078.x
• 发表日期: 2012
• 页码: 1141-1165
• 关键词: DECISION-MAKING; Similarity; preferences; rules; set

摘要

We propose a boundedly rational model of choice where agents categorize alternatives before choosing. The model explains some behavioral anomalies, and it is fully characterized by a property of choice data: a categorizer can never exhibit certain patterns of revealed preference reversals. This model offers clues on the problem of making welfare judgements in the presence of boundedly rational agents.