Random Consideration and Choice: A Case Study of "Default" Options

Sean Horan

Cahiers de recherche from Centre interuniversitaire de recherche en économie quantitative, CIREQ

Abstract: A growing number of stochastic choice models include a “default” option for situations where the decision maker selects none of the feasible alternatives. While this is a welcome development, these models also present an empirical challenge—since the situations where the decision-maker chooses nothing may be difficult to observe. Taking Manzini and Mariotti’s (2014) independent random consideration model as a point of departure, I investigate what can be learned about models of choice with default when the no-choice behavior of the decision-maker is unobservable.

Keywords: random consideration; random utility; default; no-choice (search for similar items in EconPapers)
JEL-codes: C44 D01 D03 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2018
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Related works:
Journal Article: Random consideration and choice: A case study of “default” options (2019)
Working Paper: Random consideration and choice: A case study of "default" options (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:mtl:montec:26-2018

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