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This paper contributes to the elicitation of a decision maker's strict preferences and their possible indifference or incomparability/indecisiveness. Every subject in both treatments of an incentivized lab experiment could choose multiple alternatives from each of the 50 distinct menus of...
Persistent link: https://www.econbiz.de/10013312271
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 maximises a preference relation within the set of considered alternatives....
Persistent link: https://www.econbiz.de/10010904125
We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a ?consideration set?prior to choosing an alternative. Membership of the consideration set is determined both by the alternative speci?c salience and by the rationality of...
Persistent link: https://www.econbiz.de/10008526404