Boundedly rational demand

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F24%3A00601050" target="_blank" >RIV/67985998:_____/24:00601050 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11620/24:10490550
Result on the web
<a href="https://doi.org/10.3982/TE5796" target="_blank" >https://doi.org/10.3982/TE5796</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.3982/TE5796" target="_blank" >10.3982/TE5796</a>

Result language
angličtina
Original language name
Boundedly rational demand
Original language description
Evidence suggests that consumers do not perfectly optimize, contrary to a critical assumption of classical consumer theory. We propose a model in which consumer types can vary in both their preferences and their choice behavior. Given data on demand and the distribution of prices, we identify the set of possible values of the consumer surplus based on minimal rationality conditions: every type of consumer must be no worse off than if they either always bought the good or never did. We develop a procedure to narrow the set of surplus values using richer datasets and provide bounds on counterfactual demands.
Czech name
—
Czech description
—

Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50201 - Economic Theory

Project
<a href="/en/project/GA24-10145S" target="_blank" >GA24-10145S: Behavioral Economic Theory</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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