2015
DOI: 10.1007/s00355-015-0894-3
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State dependent choice

Abstract: We propose a theory of choices that are influenced by the psychological state of the agent. The central hypothesis is that the psychological state controls the urgency of the attributes sought by the decision maker in the available alternatives. While state dependent choice is less restricted than rational choice, our model does have empirical content, expressed by simple 'revealed preference' type of constraints on observable choice data. We demonstrate the applicability of simple versions of the framework to… Show more

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Cited by 3 publications
(2 citation statements)
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References 48 publications
(61 reference statements)
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“…These factors could include preferences as well as other cognitive variables such as the decision maker's level of attention (Masatlioglu et al [30]), mood or other affective state (Manzini and Mariotti [29]), or capacity to process information (Wilson [41]). 10 Whatever the interpretation of θ, our primary assumption is that the agent's choice behavior is statistically independent across menus, conditional on type.…”
Section: The General Mixture Choice Modelmentioning
confidence: 99%
“…These factors could include preferences as well as other cognitive variables such as the decision maker's level of attention (Masatlioglu et al [30]), mood or other affective state (Manzini and Mariotti [29]), or capacity to process information (Wilson [41]). 10 Whatever the interpretation of θ, our primary assumption is that the agent's choice behavior is statistically independent across menus, conditional on type.…”
Section: The General Mixture Choice Modelmentioning
confidence: 99%
“…Our work relates to several important literatures. Firstly, it relates to the literature on multiple-selves models, which dates back to Strotz (1955) and Peleg and Yaari (1973) and which remains very popular in the theoretical literature (see, e.g., Gul and Pesendorfer (2001), Kalai et al (2002), Gul and Pesendorfer (2004), Fudenberg and Levine (2006), Manzini and Mariotti (2007), de Clippel and Eliaz (2012), Manzini and Mariotti (2015), Ambrus and Rozen (2015) and Manzini and Mariotti (2016)). In this paper our aim is to study the choices that individu-als make and to consider what they can tell us about the extent of self-control problems.…”
Section: Introductionmentioning
confidence: 99%