Growing Consideration

Yuta Inoue ()
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Yuta Inoue: Graduate School of Economics, Waseda University

No 2003, Working Papers from Waseda University, Faculty of Political Science and Economics

Abstract: This paper proposes a behavioral model which we refer to as a Growing Consideration model, and derive observable implications using a revealed preference approach. This model inherits the main idea of Limited Consideration models, and adds to it an assumption that an agent's consideration grows over time. An agent makes choices over multiple time periods, while she may not pay attention to all available alternatives at all times. In addition, we require that she pays attention to alternatives that she chose in the past, which property we refer to as Growing Consideration. Revealed preference tests, as well as conditions under which we can robustly infer agent's preference, consideration, and non-consideration are given for two types of Growing Consideration models.

Keywords: Choice; Behavior; Time; Revealed preference; Robust inference; Limited Consideration; Limited Attention; Overwhelming Choice; Growing Consideration (search for similar items in EconPapers)
JEL-codes: D1 D8 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2020-05
New Economics Papers: this item is included in nep-mic
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