TY  - RPRT
        AU  - Manzini, Paola
AU  - Mariotti, Marco
        TI  - Moody Choice
        PY  - 2010/Jun/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 5005
        UR  - https://www.iza.org/publications/dp5005
        AB  - If choices depend on the decision maker's mood, is the attempt to derive any consistency in choice doomed? In this paper we argue that, even with full unpredictability of mood, the way choices from a menu relate to choices from another menu exhibits some structure. We present two alternative models of 'moody choice' and show that, in either of them, not all choice patterns are possible. Indeed, we characterise both models in terms of consistency requirements of the observed choice data.
        KW  - bounded rationality
KW  - procedural rationality
KW  - utility maximization
KW  - choice behavior
        ER  -