When is coarseness not a curse? Comparative statics of the coarse random utility model
Paola Manzini () and
Journal of Economic Theory, 2022, vol. 202, issue C
In a variety of choice environments, perception is both noisy and coarse. That is, the agent perceives the true ranking of the objects of choice with error; and, in addition, the perceived values can only be discriminated coarsely. Reasons for coarse perception include limitations in sensory perception, memory function, or the communication technology used by expert advisors.
Keywords: Stochastic choice; Imperfect perception (search for similar items in EconPapers)
JEL-codes: D01 (search for similar items in EconPapers)
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