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 - Dec 2009 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
-
SDG 12 Responsible Consumption and Production
Keywords
- Bounded rationality
- Revealed preference
- Consumer choice
- REVEALED PREFERENCE
- INFERENCE
Fingerprint
Dive into the research topics of 'Consumer choice and revealed bounded rationality'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver