Eliciting Welfare Preferences from Behavioural Data Sets

Ariel Rubinstein () and Yuval Salant

The Review of Economic Studies, 2012, vol. 79, issue 1, 375-387

Abstract: An individual displays various preference orderings in different payoff-irrelevant circumstances. It is assumed that the variation in the observed preference orderings is the outcome of some cognitive process that distorts the underlying preferences of the individual. We introduce a framework for eliciting the individual's underlying preferences in such cases and then demonstrate it for two cognitive processes--satisficing and small assessment errors. Copyright 2012, Oxford University Press.

Date: 2012
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Working Paper: Eliciting Welfare Preferences from Behavioral Datasets (2009)
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