A random attention and utility model

Nail Kashaev and Victor Aguiar

Journal of Economic Theory, 2022, vol. 204, issue C

Abstract: We generalize the stochastic revealed preference methodology of McFadden and Richter (1990) for finite choice sets to settings with limited consideration. Our approach is nonparametric and requires partial choice set variation. We impose a monotonicity condition on attention first proposed by Cattaneo et al. (2020) and a stability condition on the marginal distribution of preferences. Our framework is amenable to statistical testing. These new restrictions extend widely known parametric models of consideration with heterogeneous preferences.

Keywords: Random utility; Random consideration sets (search for similar items in EconPapers)
JEL-codes: C50 C51 C52 C91 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: A Random Attention and Utility Model (2022)
Working Paper: A Random Attention and Utility Model (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:204:y:2022:i:c:s0022053122000771

DOI: 10.1016/j.jet.2022.105487

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