We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer behavior mirroring the classical one for utility maximization.</p
The paper is based on the acknowledgement that properties of markets stemming from features of deman...
We propose a boundedly rational model of choice where agents cate-gorize alternatives before choosin...
According to rational choice theory, rational consumers tend to maximize utility under a given budge...
We study two boundedly rational procedures in consumer behavior. We show that these procedures can b...
We present a statistical test for the hypothesis of rational utility maximization on the basis of no...
We present a statistical test for the hypothesis of rational utility maximization on the basis of no...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcave...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcave...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcave...
The theoretical literature on (non-random) choice largely follows the route of Richter (1966) by wor...
Suppose that you observe n choices of k goods and prices when the consumer is actually choosing from...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcav...
By checking whether consumer demand satisfies the axioms of revealed preference, one can test the em...
The standard approach to measuring demand responses and consumer preferences assumes particular para...
The standard approach in measuring demand responses and consumer preferences assumes particular para...
The paper is based on the acknowledgement that properties of markets stemming from features of deman...
We propose a boundedly rational model of choice where agents cate-gorize alternatives before choosin...
According to rational choice theory, rational consumers tend to maximize utility under a given budge...
We study two boundedly rational procedures in consumer behavior. We show that these procedures can b...
We present a statistical test for the hypothesis of rational utility maximization on the basis of no...
We present a statistical test for the hypothesis of rational utility maximization on the basis of no...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcave...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcave...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcave...
The theoretical literature on (non-random) choice largely follows the route of Richter (1966) by wor...
Suppose that you observe n choices of k goods and prices when the consumer is actually choosing from...
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcav...
By checking whether consumer demand satisfies the axioms of revealed preference, one can test the em...
The standard approach to measuring demand responses and consumer preferences assumes particular para...
The standard approach in measuring demand responses and consumer preferences assumes particular para...
The paper is based on the acknowledgement that properties of markets stemming from features of deman...
We propose a boundedly rational model of choice where agents cate-gorize alternatives before choosin...
According to rational choice theory, rational consumers tend to maximize utility under a given budge...
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