Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/122083
Authors: 
Manzini, Paola
Mariotti, Marco
Year of Publication: 
2015
Series/Report no.: 
Working Paper, School of Economics and Finance, Queen Mary, University of London 744
Abstract: 
We propose a novel method to model an agent who is imperfectly attentive in the sense that she may consider only some of the alternatives available. Our methodology departs from the standard 'revealed preference' one: we make plausible assumptions on the values to the imperfectly attentive agent of different choice situations. We derive in this way a simple reduced-form model that is compatible with several cognitive processes underlying choice: the agent stochastically forms a consideration set by noticing each alternative with a given probability and then maximises a deterministic utility function over the consideration set.
Subjects: 
Attention
Bounded rationality
Stochastic choice
JEL: 
D0
Document Type: 
Working Paper

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