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dc.contributor.authorManzini, Paolaen_US
dc.contributor.authorMariotti, Marcoen_US
dc.date.accessioned2012-09-20T12:59:34Z-
dc.date.available2012-09-20T12:59:34Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/62834-
dc.description.abstractWe study and test a class of boundedly rational models of decision making which rely on sequential eliminative heuristics. We formalize two sequential decision procedures, both inspired by plausible models popular among several psychologists and marketing scientists. However we follow a standard `revealed preference' economic approach by fully characterizing these procedures by few, simple and testable conditions on observed choice. Then we test the models (as well as the standard utility maximization model) with experimental data. We find that the large majority of individuals behave in a way consistent with one of our procedures, and inconsistent with the utility maximization model.en_US
dc.language.isoengen_US
dc.publisherQueen Mary, Univ. of London, Dep. of Economics Londonen_US
dc.relation.ispartofseriesWorking Paper, Department of Economics, Queen Mary, University of London 561en_US
dc.subject.jelC91en_US
dc.subject.jelD9en_US
dc.subject.ddc330en_US
dc.subject.keywordBounded rationality, Choice experimentsen_US
dc.titleTwo-stage boundedly rational choice procedures: Theory and experimental evidenceen_US
dc.typeWorking Paperen_US
dc.identifier.ppn516514938en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Paper Series, School of Economics and Finance, Queen Mary, University of London

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