Stochastic Choice and Consideration Sets
Stochastic Choice and Consideration Sets
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DOI:
10.3982/ecta10575
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发表时间:
2012-10
期刊:
影响因子:
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通讯作者:
Paola Manzini;M. Mariotti
中科院分区:
文献类型:
--
作者:
Paola Manzini;M. Mariotti
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.