Arbeitspapier
Referential revealed preference theory
References can influence choice. One of the well-studied cases is when a decoy is added to the menu. However small in magnitude, decoy effect violates the weak axiom of revealed preferences (WARP). In order to explain the small deviation from the classical revealed preference theory, I decompose WARP into independent axioms in order to only remove the ones which are inconsistent with the this effect. This minimal deviation produces the referential revealed preference theory that keeps the strong predictive power offered in the classical theory while explaining the referential effect.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2017-07
- Klassifikation
-
Wirtschaft
Consumer Economics: Theory
Criteria for Decision-Making under Risk and Uncertainty
- Thema
-
Reference-Dependent Choice
Reference Preferences
Decoy Effect
Attraction Effect
WARP Decomposition
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Nosratabadi, Hassan
- Ereignis
-
Veröffentlichung
- (wer)
-
Rutgers University, Department of Economics
- (wo)
-
New Brunswick, NJ
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Nosratabadi, Hassan
- Rutgers University, Department of Economics
Entstanden
- 2017
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