Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/202602 
Year of Publication: 
2018
Series/Report no.: 
Working Paper No. 2018-10
Publisher: 
Brown University, Department of Economics, Providence, RI
Abstract: 
Incorporating bounded rationality into the classic consumer theory setting, we study the testable implications of a consumer who may have trouble consistently assessing her subjective tastes. Our model of E-Rationalizability, which bounds the consumer's misperception of her marginal rates of substitution, may arise from various choice heuristics. It also offers a natural, preference-based measure of departure from rationality that is more demanding than Afriat's measure.
Document Type: 
Working Paper

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