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Attributes and Limited Attention

Author

Listed:
  • Arkarup Basu Mallik

    (ISI, Kolkata)

  • Mihir Bhattacharya

    (Ashoka University)

  • Anuj Bhowmik

    (ISI, Kolkata)

Abstract

We consider an attribute-based model of stochastic choice with variable attention to different attributes. We characterize stochastic choice rules with attributes and limited attention (SCRALA). Under SCRALA, the probability with which an alternative (say, x) is chosen is the product of the probabilities with which attention is drawn by the attributes where x is ranked highest and the (weighted) probability with which attention is not drawn by the attributes under which x is not the highest ranked. Our results are characterized by axioms defined on observable choice data and all the attention parameters are uniquely identified.

Suggested Citation

  • Arkarup Basu Mallik & Mihir Bhattacharya & Anuj Bhowmik, 2024. "Attributes and Limited Attention," Working Papers 120, Ashoka University, Department of Economics.
    • Handle: RePEc:ash:wpaper:120
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    References listed on IDEAS

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    3. Huber, Joel & Payne, John W & Puto, Christopher, 1982. "Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 9(1), pages 90-98, June.
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