Random Attention and Unobserved Reference Alternatives
Fuente:
arXiv
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| Formato: | Preprint |
| Publicado: |
2024
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| _version_ | 1866914213211930624 |
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| author | Bansal, Varun |
| author_facet | Bansal, Varun |
| contents | In this paper, I develop and characterize two models of random attention that differ from each other with respect to the menu-dependence of the unobserved reference alternatives. In both models, the decision-maker pays attention to subsets of the available set of alternatives randomly with the reference alternatives being always paid attention to. Under menu-dependence, partial identification of both the reference alternatives and the underlying preferences is provided. For the case of multiple menu-independent references, I provide a complete identification of the references and a coarse identification of the underlying preferences. A complete identification of the latter is provided when the independent random attention function is considered. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2407_01528 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Random Attention and Unobserved Reference Alternatives Bansal, Varun Theoretical Economics In this paper, I develop and characterize two models of random attention that differ from each other with respect to the menu-dependence of the unobserved reference alternatives. In both models, the decision-maker pays attention to subsets of the available set of alternatives randomly with the reference alternatives being always paid attention to. Under menu-dependence, partial identification of both the reference alternatives and the underlying preferences is provided. For the case of multiple menu-independent references, I provide a complete identification of the references and a coarse identification of the underlying preferences. A complete identification of the latter is provided when the independent random attention function is considered. |
| title | Random Attention and Unobserved Reference Alternatives |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2407.01528 |