Departures from standard rational choice models

(bq) part 1 book "microeconomics and behavior" has contents: thinking like an economist, thinking like an economist, rational consumer choice, applications of rational choice and demand theories, the economics of information and choice under uncertainty, departures from standard rational choice models, production, costs.

337p bautroibinhyen27 11-05-2017 74 8   Download

An alternative conception of consumer choice has recently gained the attention of economists, which allows for two closely related departures from the standard model. First, consumers may have dynamically inconsistent preferences. Second, as a rational response to this dynamic inconsistency, the consumer may use external commitment devices or personal rules in an attempt to limit overspending. We use data from a large, representative sample of households in the UK to test the relevance of these twin predictions in the field.

58p bin_pham 06-02-2013 42 3   Download