Consumer choice and revealed bounded rationality

Paola Manzini, Marco Mariotti

    Research output: Contribution to journalArticlepeer-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 languageEnglish
    Pages (from-to)379-392
    Number of pages14
    JournalEconomic Theory
    Volume41
    Issue number3
    DOIs
    Publication statusPublished - Dec 2009

    Keywords

    • Bounded rationality
    • Revealed preference
    • Consumer choice
    • REVEALED PREFERENCE
    • INFERENCE

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