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 | |
| Publication status | Published - Sept 2009 |
Bibliographical note
Copyright:Copyright 2010 Elsevier B.V., All rights reserved.
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 12 Responsible Consumption and Production
Research Groups and Themes
- ECON Microeconomic Theory
Keywords
- Bounded rationality
- Consumer choice
- Revealed preference
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