STOCHASTIC CHOICE AND CONSIDERATION SETS

• 成果类型: Article
• 署名作者: Manzini, Paola; Mariotti, Marco
• 署名单位: University of St Andrews; IZA Institute Labor Economics
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA10575
• 发表日期: 2014
• 页码: 1153-1176
• 关键词: PROBABILISTIC CHOICE; preference; MODEL

摘要

We 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.