Consumer Choice and Revealed Bounded Rationality

Paola Manzini and Marco Mariotti

No 571, Working Papers from Queen Mary University of London, School of Economics and Finance

Abstract: We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer behavior mirroring the classical one for utility maximization.

Keywords: Bounded rationality; Revealed preference; Consumer choice (search for similar items in EconPapers)
JEL-codes: D1 D11 (search for similar items in EconPapers)
Date: 2006-09-01
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Journal Article: Consumer choice and revealed bounded rationality (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:qmw:qmwecw:571

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