• Medientyp: E-Artikel
  • Titel: Choice by iterative search
  • Beteiligte: Nakajima, Daisuke [Verfasser:in]; Masatlioglu, Yusufcan [Verfasser:in]
  • Erschienen: New Haven, CT: The Econometric Society, 2013
  • Sprache: Englisch
  • DOI: https://doi.org/10.3982/TE1014
  • ISSN: 1555-7561
  • Schlagwörter: Search ; reference-dependent choice ; D11 ; bounded rationality ; satisficing ; consideration set ; D81 ; revealed preference
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  • Beschreibung: When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the idea of consideration sets. Consumers engage in a dynamic search process. At each stage, they consider only those options in the current consideration set. We provide behavioral postulates characterizing this model. We illustrate how one can identify both search paths and preferences.
  • Zugangsstatus: Freier Zugang