Combinatorial choice and limited attention (in Persian)

Hadi Pahlevan Yazdanabad (), Mohammad Hoseini and Mahdi Fadaee ()
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Hadi Pahlevan Yazdanabad: Institute for Management and Planning Studies, Tehran, Iran.
Mahdi Fadaee: Department of Economics, Institute for Management and Planning Studies, Tehran, Iran.

The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی و بودجه), 2023, vol. 27, issue 4, 3-22

Abstract: Combinatorial choice models are based on the implicit assumption that decision-makers consider all possible combinations that can be made by the options in a given set. Therefore, these models assumed that the chosen combination is the most preferable combination. However, decision-makers may not consider all possible combinations due to the limited attention. Thus, the chosen combination is not necessarily the best. This paper presents a model that can explain such choice behaviors. After presenting the model, we investigate its revealed preference implications and explain how one can make inferences about individuals’ preferences considering their choices in the new context. Finally, for the model to be testable, we present its characterizing axiom and show that it is equivalent to the model.

Keywords: Combinatorial Choice; Limited Attention; Revealed Preferences; Choice Theory; Axiom of Choice. (search for similar items in EconPapers)
JEL-codes: D01 D81 D91 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:auv:jipbud:v:27:y:2023:i:4:p:3-22

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