A reference-dependent representation with subjective tastes
The paper investigates individual choice with the account of context effects which bias the choice. The presence of an inferior option in a choosing menu increases the attractiveness of the better options of the menu and thus disturbs the normative ranking. A concern for the menu flexibility, which increases the inclination of a decision maker, is also under consideration. The preferences are considered as reference-dependent ones over menus of lotteries in spaces of outcomes which can be finite as well as infinite. The preferences are represented via a state-dependent expected utility function. The main theorem of the paper gives conditions that provide such representability.
- Representation of subjective preferences under ambiguity
- Taste Variation in Discrete Choice Models
- Purely subjective variational preferences
- Representing Preferences with a Unique Subjective State Space
- A note on the representation of preferences
- A model of reference-dependent preferences
- Consistency between tastes and values: a universalization approach
- Parametric representation of preferences
- A Representation Theorem for "Preference for Flexibility"
- Anticipating Regret: Why Fewer Options May Be Better
- Context effects: a representation of choices from categories
- scientific article; zbMATH DE number 46153 (Why is no real title available?)
- scientific article; zbMATH DE number 1351867 (Why is no real title available?)
- On preferences with infinitely many subjective states
- Representing Preferences with a Unique Subjective State Space
- Representing Preferences with a Unique Subjective State Space: A Corrigendum
- Temptation and Self-Control
- Temptation-Driven Preferences
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