Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/36919
Authors: 
Manzini, Paola
Mariotti, Marco
Year of Publication: 
2010
Series/Report no.: 
Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5005
Abstract: 
If choices depend on the decision maker's mood, is the attempt to derive any consistency in choice doomed? In this paper we argue that, even with full unpredictability of mood, the way choices from a menu relate to choices from another menu exhibits some structure. We present two alternative models of 'moody choice' and show that, in either of them, not all choice patterns are possible. Indeed, we characterise both models in terms of consistency requirements of the observed choice data.
Subjects: 
Bounded rationality
procedural rationality
utility maximization
choice behavior
JEL: 
D01
Document Type: 
Working Paper

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