Consumer choice and revealed bounded rationality

Paola Manzini; Marco Mariotti

doi:10.1007/s00199-008-0389-x

Consumer choice and revealed bounded rationality

Paola Manzini, Marco Mariotti^*

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article (Academic Journal) › peer-review

14 Citations (Scopus)

Abstract

We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer behavior mirroring the classical one for utility maximization.

Original language	English
Pages (from-to)	379-392
Number of pages	14
Journal	Economic Theory
Volume	41
Issue number	3
DOIs	https://doi.org/10.1007/s00199-008-0389-x
Publication status	Published - Sept 2009

Bibliographical note

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Copyright 2010 Elsevier B.V., All rights reserved.

Structured keywords

ECON Microeconomic Theory

Keywords

Bounded rationality
Consumer choice
Revealed preference

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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abstract = "We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer behavior mirroring the classical one for utility maximization.",

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AB - We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer behavior mirroring the classical one for utility maximization.

KW - Bounded rationality

KW - Consumer choice

KW - Revealed preference

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U2 - 10.1007/s00199-008-0389-x

DO - 10.1007/s00199-008-0389-x

M3 - Article (Academic Journal)

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SN - 0938-2259

VL - 41

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JO - Economic Theory

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Consumer choice and revealed bounded rationality

Abstract

Bibliographical note

Structured keywords

Keywords

UN SDGs

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