A Testable Theory of Imperfect Perception

Andrew Caplin and Daniel Martin
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Andrew Caplin: NYU - New York University [New York] - NYU - NYU System

PSE-Ecole d'économie de Paris (Postprint) from HAL

Abstract: We provide a characterisation of choice behaviour generated by a Bayesian expected utility maximiser. The observable signature of this standard model is the impossibility of raising utility by switching wholesale from one action to another. We provide applications to robustness, to the recovery of utility from choice data and to model classification.

Keywords: Bayesian (search for similar items in EconPapers)
Date: 2015-02
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Citations: View citations in EconPapers (29)

Published in The Economic Journal, 2015, 125 (582), pp.184-202. ⟨10.1111/ecoj.12130⟩

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Related works:
Journal Article: A Testable Theory of Imperfect Perception (2015)
Working Paper: A Testable Theory of Imperfect Perception (2015)
Working Paper: A Testable Theory of Imperfect Perception (2013)
Working Paper: A Testable Theory of Imperfect Perception (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:pseptp:halshs-01155313

DOI: 10.1111/ecoj.12130

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