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Pré-publication, Document de travail Année : 2019

Description-dependent Choices

Résumé

The standard model of choice behavior relies on an implicit assumption that a decision maker is not affected by different descriptions of a given problem (description invariance). However, the behavioral economics and psychology literatures provide well-established evidence that descriptions do in fact influence decision makers. In this paper, we distinguish between descriptions of objects of choice and consequences of objects of choice in order to deduce a decision maker's preferences over the descriptions from observed choices over the consequences. We provide a choice theoretical foundation for maximizing preference relations subject to the class of framing effects where description invariance is violated. JEL Classification: D89, D90, D91.
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Dates et versions

halshs-01651086, version 1 (28-11-2017)
halshs-01651086, version 2 (25-05-2021)

Identifiants

  • HAL Id : halshs-01651086 , version 2

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Dino Borie, Dorian Jullien. Description-dependent Choices. 2019. ⟨halshs-01651086v2⟩
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Dernière date de mise à jour le 28/04/2024
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