Matias D. Cattaneo, Xinwei Ma, Yusufcan Masatlioglu, Elchin Suleymanov
arXiv 9 Dec 2017 · Econometrics · publishedJournal of Political Economy (2019) · 9 citations (OpenAlex)
arXiv:1712.03448 · PDF · DOI · OpenAlex · Extracted main text
This paper illustrates how one can deduce preference from observed choices when attention is not only limited but also random. In contrast to earlier approaches, we introduce a Random Attention Model (RAM) where we abstain from any particular attention formation, and instead consider a large class of nonparametric random attention rules. Our model imposes one intuitive condition, termed Monotonic Attention, which captures the idea that each consideration set competes for the decision-maker's attention. We then develop revealed preference theory within RAM and obtain precise testable implications for observable choice probabilities. Based on these theoretical findings, we propose econometric methods for identification, estimation, and inference of the decision maker's preferences. To illustrate the applicability of our results and their concrete empirical content in specific settings, we also develop revealed preference theory and accompanying econometric methods under additional nonparametric assumptions on the consideration set for binary choice problems. Finally, we provide general purpose software implementation of our estimation and inference results, and showcase their performance using simulations.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Brady, Richard L and John Rehbeck (2016) Menu-Dependent Stochastic Feasibility | 1.000 | 7 | 3 | 100% |
| 2 | Manzini, Paola and Marco Mariotti (2014) Stochastic Choice and Consideration Sets | 1.000 | 7 | 3 | 100% |
| 3 | Masatlioglu, Yusufcan, Daisuke Nakajima, and Erkut Y. Ozbay (2012) Revealed Attention self | 1.000 | 5 | 3 | 100% |
| 4 | Suppes, Patrick and R D Luce (1965) Preference, Utility, and Subjective Probability | 0.644 | 2 | 2 | 100% |
| 5 | Andrews, Donald W.K. and Gustavo Soares (2010) Inference for Parameters Defined by Moment Inequalities Using Generalized Moment Selection | 0.511 | 2 | 1 | 100% |
| 6 | Fudenberg, Drew, Ryota Iijima, and Tomasz Strzalecki (2015) Stochastic Choice and Revealed Perturbed Utility | 0.511 | 2 | 1 | 100% |
| 7 | Abaluck, Jason and Abi Adams (2017) What Do Consumers Consider Before They Choose? Identification from Asymmetric Demand Responses | 0.405 | 1 | 1 | 100% |
| 8 | Agranov, Marina and Pietro Ortoleva (2017) Stochastic Choice and Preferences for Randomization | 0.405 | 1 | 1 | 100% |
| 9 | Aguiar, Victor H (2015) Stochastic Choice and Attention Capacities: Inferring Preferences from Psychological Biases | 0.405 | 1 | 1 | 100% |
| 10 | Aguiar, Victor H, Mará José Boccardi, and Mark Dean (2016) Satisficing and Stochastic Choice | 0.405 | 1 | 1 | 100% |
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arXiv econ.EM papers that cite this one, ranked by how heavily they lean on it.