arXiv 22 May 2024 · Econometrics
arXiv:2405.13945 · PDF · DOI · OpenAlex · Extracted main text
In a consideration set model, an individual maximizes utility among the considered alternatives. I relate a consideration set additive random utility model to classic discrete choice and the extended additive random utility model, in which utility can be $-\infty$ for infeasible alternatives. When observable utility shifters are bounded, all three models are observationally equivalent. Moreover, they have the same counterfactual bounds and welfare formulas for changes in utility shifters like price. For attention interventions, welfare cannot change in the full consideration model but is completely unbounded in the limited consideration model. The identified set for consideration set probabilities has a minimal width for any bounded support of shifters, but with unbounded support it is a point: identification "towards" infinity does not resemble identification "at" infinity.
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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 | Daniel McFadden (1981) Econometric models of probabilistic choice | 1.000 | 6 | 4 | 100% |
| 2 | Roy Allen and John Rehbeck (2019) Identification with additively separable heterogeneity self | 1.000 | 5 | 4 | 100% |
| 3 | Levon Barseghyan, Francesca Molinari, and Matthew Thirkettle (2021) Discrete choice under risk with limited consideration | 0.874 | 6 | 2 | 100% |
| 4 | Jason Abaluck and Abi Adams-Prassl (2021) What do consumers consider before they choose? identification from asymmetric demand responses | 0.874 | 5 | 2 | 100% |
| 5 | Paola Manzini and Marco Mariotti (2014) Stochastic choice and consideration sets | 0.811 | 4 | 2 | 100% |
| 6 | Henry David Block and Jacob Marschak (1960) Random orderings and stochastic theories of response | 0.644 | 2 | 2 | 100% |
| 7 | Mogens Fosgerau, Daniel McFadden, and Michel Bierlaire (2013) Choice probability generating functions | 0.644 | 2 | 2 | 100% |
| 8 | Srikanth Jagabathula, Dmitry Mitrofanov, and Gustavo Vulcano (2021) Demand estimation under uncertain consideration sets | 0.644 | 2 | 2 | 100% |
| 9 | Victor H Aguiar (2017) Random categorization and bounded rationality | 0.511 | 2 | 1 | 100% |
| 10 | Gregory S Crawford, Rachel Griffith, and Alessandro Iaria (2021) A survey of preference estimation with unobserved choice set heterogeneity | 0.511 | 2 | 1 | 100% |
Showing the top 10 of 49 scored citations.