Optimal menu when agents make mistakes
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F23%3A00570753" target="_blank" >RIV/67985998:_____/23:00570753 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11640/23:00582626
Result on the web
<a href="https://doi.org/10.1016/j.rie.2022.12.001" target="_blank" >https://doi.org/10.1016/j.rie.2022.12.001</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.rie.2022.12.001" target="_blank" >10.1016/j.rie.2022.12.001</a>
Alternative languages
Result language
angličtina
Original language name
Optimal menu when agents make mistakes
Original language description
This paper studies how an optimal menu chosen by a social planner depends on whether agents receive imperfect signals about their true tastes (imperfect self-knowledge) or the properties of available alternatives (imperfect information). Under imperfect self-knowledge, it is not optimal to offer fewer alternatives than the number of different tastes present in the population, unless noise is infinite (agents have no clue about their true preferences). As noise increases, the social planner offers menu items that are closer together (more similar). However, under imperfect information, as noise increases, it could be optimal to construct a menu with more distinct alternatives, restrict the number of options, or, for some finite noise, offer a single item.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Research in Economics
ISSN
1090-9443
e-ISSN
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Volume of the periodical
77
Issue of the periodical within the volume
1
Country of publishing house
GB - UNITED KINGDOM
Number of pages
9
Pages from-to
25-33
UT code for WoS article
000921389000001
EID of the result in the Scopus database
2-s2.0-85144499981