TY  - RPRT
        AU  - Manzini, Paola
AU  - Mariotti, Marco
        TI  - Stochastic Choice and Consideration Sets
        PY  - 2012/Oct/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 6905
        UR  - https://www.iza.org/publications/dp6905
        AB  - We model a boundedly rational agent who suffers from limited attention. The agent considers each feasible alternative with a given (unobservable) probability, the attention parameter, and then chooses the alternative that maximises a preference relation within the set of considered alternatives. Both the preference and the attention parameters are identified uniquely by stochastic choice data. The model is the only one for which the impact of removing any alternative a on the choice probability of any other alternative b is non-negative, asymmetric (either a impacts b or vice-versa), menu independent, neutral (the same on any alternative in the menu), and consistent with the impacts on a and b by a common third alternative.
        KW  - revealed preferences
KW  - consideration sets
KW  - logit model
KW  - random utility
KW  - discrete choice
KW  - bounded rationality
        ER  -