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Indifference, indecisiveness, experimentation and stochastic choice

Ok, Efe A.; Tserenjigmid, Gerelt - In: Theoretical economics : TE ; an open access journal in … 17 (2022) 2, pp. 651-686

or indecisiveness between certain alternatives, and/or her willingness to experiment in the sense of occasionally …

Persistent link: https://www.econbiz.de/10013273770

Correcting for random budgets in revealed preference experiments

Mahmood, Mir Adnan; Rehbeck, John - In: Games 13 (2022) 2, pp. 1-14

Experiments on revealed preference often use budget sets that are randomly and independently drawn according to some …

Persistent link: https://www.econbiz.de/10013172519

Gradual pairwise comparison and stochastic choice

Dutta, Rohan - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 4, pp. 1335-1364

decision-making procedure. A decision-maker with a rational preference may nevertheless consider the constituent pairwise …

Persistent link: https://www.econbiz.de/10012415409

Boundedly rational demand

Kocourek, Pavel; Steiner, Jakub; Stewart, Colin - In: Theoretical economics : TE ; an open access journal in … 19 (2024) 4, pp. 1415-1442

Evidence suggests that consumers do not perfectly optimize, contrary to a critical assumption of classical consumer theory. We propose a model in which consumer types can vary in both their preferences and their choice behavior. Given data on demand and the distribution of prices, we identify...

Persistent link: https://www.econbiz.de/10015135346

Households' rice demand response to changes in price, income and coping strategies during food inflation in Nigeria : evidence from Oyo State

Obayelu, Abiodun Elijah; Wintola, Adeola Oluwaseun; … - In: Italian review of agricultural economics 77 (2022) 2, pp. 61-75

Food price is a main driver of inflation that erodes the purchasing power of households. The study examined demand response to changes in price of rice during food price inflation in Nigeria using sampled households from Oyo State. A multi-stage sampling procedure was used to select 174...

Persistent link: https://www.econbiz.de/10013499488

The standard model of rational risky decision-making

Falahati, Kazem - In: Journal of risk and financial management : JRFM 14 (2021) 4, pp. 1-22

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under …

Persistent link: https://www.econbiz.de/10012520657

A lab test on the decision not to decide

Schade, Christian D.; Snir, Avichai - In: Business research 13 (2020) 3, pp. 1253-1291

losing assets for too long. We use an experiment with real real-options to study one possible behavioral motivation. Studies … that participants' styles of decision-making and risk aversion as well as the interaction of those can assist in predicting …

Persistent link: https://www.econbiz.de/10012422376

Investigating spatially autocorrelated consumer preference for multiple ecolabels : evidence from a choice experiment

Kyoi, Shinsuke; Fujino, Masaya; Kuriyama, Kōichi - In: Cleaner and responsible consumption 7 (2022), pp. 1-13

ecolabels, but the extent of its influence remains unclear. This study conducted a choice experiment employing multiple …

Persistent link: https://www.econbiz.de/10014230389

Hoping for the best while preparing for the worst in the face of uncertainty : a new typemof incomplete preferences

Bardier, Pierre; Bach Dong Xuan; Nguyen, Van-Quy - 2025

We propose and axiomatize a new model of incomplete preferences under uncertainty, which we call hope-and-prepare preferences. An act is considered more desirable than another when, and only when, both an optimistic evaluation, computed as the welfare level attained in a best-case scenario, and...

Persistent link: https://www.econbiz.de/10015210350

Random utility and limited consideration

Aguiar, Victor H.; Boccardi, Maria Jose; Kashaev, Nail; … - In: Quantitative economics : QE ; journal of the … 14 (2023) 1, pp. 71-116

population of decision makers. RUM assumes that decision makers behave as if they maximize a rational preference over a choice … heterogeneity. We apply this methodology in a novel stochastic choice data set that we collected in a large‐scale online experiment … contrast, we cannot reject the hypothesis that decision makers behave according to the logit attention model (Brady and Rehbeck …

Persistent link: https://www.econbiz.de/10014306354