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Random consideration and choice: A case study of "default" options

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  • HORAN, Sean

Abstract

A growing number of stochastic choice models include a "default" option for situations where the decision maker selects none of the feasible alternatives. While this is a welcome development, these models also present an empirical challenge - since the situations where the decision-maker chooses nothing may be difficult to observe. Taking Manzini and Mariotti’s (2014) independent random consideration model as a point of departure, I investigate what can be learned about models of choice with default when the no-choice behavior of the decision-maker is unobservable.

Suggested Citation

  • HORAN, Sean, 2018. "Random consideration and choice: A case study of "default" options," Cahiers de recherche 2018-18, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:2018-18
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    File URL: http://hdl.handle.net/1866/21099
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    Cited by:

    1. Demirkan, Yusufcan & Kimya, Mert, 2020. "Hazard rate, stochastic choice and consideration sets," Journal of Mathematical Economics, Elsevier, vol. 87(C), pages 142-150.
    2. Victor H. Aguiar & Maria Jose Boccardi & Nail Kashaev & Jeongbin Kim, 2023. "Random utility and limited consideration," Quantitative Economics, Econometric Society, vol. 14(1), pages 71-116, January.
    3. Kovach, Matthew & Suleymanov, Elchin, 2023. "Reference dependence and random attention," Journal of Economic Behavior & Organization, Elsevier, vol. 215(C), pages 421-441.
    4. Yegane, Ece, 2022. "Stochastic choice with limited memory," Journal of Economic Theory, Elsevier, vol. 205(C).
    5. Nail Kashaev & Natalia Lazzati, 2019. "Peer Effects in Random Consideration Sets," Papers 1904.06742, arXiv.org, revised May 2021.
    6. Kashaev, Nail & Aguiar, Victor H., 2022. "A random attention and utility model," Journal of Economic Theory, Elsevier, vol. 204(C).
    7. Georgios Gerasimou, 2020. "Decision Conflict and Deferral in A Class of Logit Models with a Context-Dependent Outside Option," Papers 2008.04229, arXiv.org, revised Sep 2025.
    8. Valentino Dardanoni & Paola Manzini & Marco Mariotti & Christopher J. Tyson, 2020. "Inferring Cognitive Heterogeneity From Aggregate Choices," Econometrica, Econometric Society, vol. 88(3), pages 1269-1296, May.
    9. Gibbard, Peter, 2021. "Disentangling preferences and limited attention: Random-utility models with consideration sets," Journal of Mathematical Economics, Elsevier, vol. 94(C).

    More about this item

    Keywords

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    JEL classification:

    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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