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Mixture Choice Data: Revealing Preferences and Cognition

Author

Listed:
  • Valentino Dardanoni
  • Paola Manzini
  • Marco Mariotti
  • Henrik Petri
  • Christopher J. Tyson

Abstract

Mixture choice data consist of the joint distribution of choices of a group of agents from a collection of menus, comprising the implied stochastic choice function plus any cross-menu correlations. When agents are heterogeneous with respect to both preferences and other aspects of cognition, we show that these two determinants of behavior are identified simultaneously by suitable mixture choice data. We also demonstrate how this finding can be extended to allow for specialized assumptions about cognition, focusing on models of random satisficing thresholds and “quantal Fechnerian” choice.

Suggested Citation

  • Valentino Dardanoni & Paola Manzini & Marco Mariotti & Henrik Petri & Christopher J. Tyson, 2023. "Mixture Choice Data: Revealing Preferences and Cognition," Journal of Political Economy, University of Chicago Press, vol. 131(3), pages 687-715.
    • Handle: RePEc:ucp:jpolec:doi:10.1086/721734
    DOI: 10.1086/721734
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    Cited by:

    1. Daniele Caliari & Henrik Petri, 2024. "Irrational Random Utility Models," Papers 2403.10208, arXiv.org.
    2. Mikhail Freer & Hassan Nosratabadi, 2024. "On the Welfare (Ir)Relevance of Two-Stage Models," Papers 2411.08263, arXiv.org.

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