A random attention and utility model

• 成果类型: Article
• 署名作者: Kashaev, Nail; Aguiar, Victor H.
• 署名单位: Western University (University of Western Ontario)
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2022.105487
• 发表日期: 2022
• 关键词: Random utility; random consideration sets

摘要

We generalize the stochastic revealed preference methodology of McFadden and Richter (1990) for fi-nite choice sets to settings with limited consideration. Our approach is nonparametric and requires partial choice set variation. We impose a monotonicity condition on attention first proposed by Cattaneo et al. (2020) and a stability condition on the marginal distribution of preferences. Our framework is amenable to statistical testing. These new restrictions extend widely known parametric models of consideration with heterogeneous preferences.(c) 2022 Elsevier Inc. All rights reserved.