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Combinatorial choice and limited attention (in Persian)

Author

Listed:
  • Pahlevan Yazdanabad, Hadi

    (Institute for Management and Planning Studies, Tehran, Iran.)

  • Hoseini, Mohammad

    (Department of Economics, Institute for Management and Planning Studies, Tehran, Iran.)

  • Fadaee, Mahdi

    (Department of Economics, Institute for Management and Planning Studies, Tehran, Iran.)

Abstract

Combinatorial choice models are based on the implicit assumption that decision-makers consider all possible combinations that can be made by the options in a given set. Therefore, these models assumed that the chosen combination is the most preferable combination. However, decision-makers may not consider all possible combinations due to the limited attention. Thus, the chosen combination is not necessarily the best. This paper presents a model that can explain such choice behaviors. After presenting the model, we investigate its revealed preference implications and explain how one can make inferences about individuals’ preferences considering their choices in the new context. Finally, for the model to be testable, we present its characterizing axiom and show that it is equivalent to the model.

Suggested Citation

  • Pahlevan Yazdanabad, Hadi & Hoseini, Mohammad & Fadaee, Mahdi, 2023. "Combinatorial choice and limited attention (in Persian)," The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی Ùˆ بودجه), Institute for Management and Planning studies, vol. 27(4), pages 3-22, March.
    • Handle: RePEc:auv:jipbud:v:27:y:2023:i:4:p:3-22
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    More about this item

    Keywords

    Combinatorial Choice; Limited Attention; Revealed Preferences; Choice Theory; Axiom of Choice.;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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