Revealed Attention

• 成果类型: Article
• 署名作者: Masatlioglu, Yusufcan; Nakajima, Daisuke; Ozbay, Erkut Y.
• 署名单位: University of Michigan System; University of Michigan; University System of Maryland; University of Maryland College Park
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.102.5.2183
• 发表日期: 2012
• 页码: 2183-2205
• 关键词: choice-theoretic foundations; consideration set; INFORMATION; MODEL; Intransitivity; VIOLATIONS; search

摘要

The standard revealed preference argument relies on an implicit assumption that a decision maker considers all feasible alternatives. The marketing and psychology literatures, however, provide well-established evidence that consumers do not consider all brands in a given market before making a purchase (Limited Attention). In this paper, we illustrate how one can deduce both the decision maker's preference and the alternatives to which she pays attention and inattention from the observed behavior. We illustrate how seemingly compelling welfare judgments without specifying the underlying choice procedure are misleading. Further, we provide a choice theoretical foundation for maximizing a single preference relation under limited attention. (JEL D11, D81)