Decisions with Endogenous Frames
AbstractThis paper contrasts the normative implications of a model of decisionmaking with endogenous frames to those of choice theoretic models of Bernheim and Rangel (2007, 2009) and Rubinstein and Salant (2008) in which observed choices are determined by exogenous frames or ancillary conditions. We argue that frames, though exogenous to the individual at the point when choices are made, matter for welfare purposes.
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Bibliographic InfoPaper provided by Competitive Advantage in the Global Economy (CAGE) in its series CAGE Online Working Paper Series with number 30.
Date of creation: 2010
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Decisions; choice; frames; standard; behavioral; welfare;
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