A random attention and utility model
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Publication:2675393
DOI10.1016/J.JET.2022.105487zbMATH Open1498.91133arXiv2105.11268OpenAlexW3164509093MaRDI QIDQ2675393FDOQ2675393
Nail Kashaev, Victor H. Aguiar
Publication date: 23 September 2022
Published in: Journal of Economic Theory (Search for Journal in Brave)
Abstract: We generalize the stochastic revealed preference methodology of McFadden and Richter (1990) for finite choice sets to settings with limited consideration. Our approach is nonparametric and requires partial choice set variation. We impose a monotonicity condition on attention first proposed by Cattaneo et al. (2020) and a stability condition on the marginal distribution of preferences. Our framework is amenable to statistical testing. These new restrictions extend widely known parametric models of consideration with heterogeneous preferences.
Full work available at URL: https://arxiv.org/abs/2105.11268
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Cited In (4)
Uses Software
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