Attributes and Limited Attention

Arkarup Basu Mallik, Mihir Bhattacharya () and Anuj Bhowmik
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Arkarup Basu Mallik: ISI, Kolkata
Mihir Bhattacharya: Ashoka University
Anuj Bhowmik: ISI, Kolkata

No 120, Working Papers from Ashoka University, Department of Economics

Abstract: We consider an attribute-based model of stochastic choice with variable attention to different attributes. We characterize stochastic choice rules with attributes and limited attention (SCRALA). Under SCRALA, the probability with which an alternative (say, x) is chosen is the product of the probabilities with which attention is drawn by the attributes where x is ranked highest and the (weighted) probability with which attention is not drawn by the attributes under which x is not the highest ranked. Our results are characterized by axioms defined on observable choice data and all the attention parameters are uniquely identified.

Keywords: attributes; limited; attention; stochastic; choice (search for similar items in EconPapers)
Pages: 29
Date: 2024-08-23
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Persistent link: https://EconPapers.repec.org/RePEc:ash:wpaper:120

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