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Dual decision processes: retrieving preferences when some choices are automatic

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dc.contributor.author Cerigioni, Francesco
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.accessioned 2020-05-25T09:27:10Z
dc.date.available 2020-05-25T09:27:10Z
dc.date.issued 2019-10-11
dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1673
dc.identifier.citation
dc.identifier.uri http://hdl.handle.net/10230/44798
dc.description.abstract Evidence from the cognitive sciences suggests that some choices are conscious and reflect individual volition while others tend to be automatic, being driven by analogies with past experiences. Under these circumstances, standard economic modeling might not always be applicable because not all choices are the result of individual tastes. We propose a behavioral model that can be used in standard economic analysis that formalizes the way in which conscious and automatic choices arise by presenting a decision maker comprised of two selves. One self compares past decision problems with the one the decision maker faces and, when the problems are similar enough, it replicates past behavior (Automatic choices). Otherwise, a second self is activated and preferences are maximized (Conscious choices). We then present a novel method capable of identifying a set of conscious choices from observed behavior and discuss its usefulness as a framework for studying asymmetric pricing and empirical puzzles in different settings.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1673
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Dual decision processes: retrieving preferences when some choices are automatic
dc.title.alternative
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2020-05-25T09:26:07Z
dc.subject.keyword dual processes
dc.subject.keyword similarity
dc.subject.keyword revealed preferences
dc.subject.keyword fluency
dc.subject.keyword automatic choice
dc.subject.keyword Behavioral and Experimental Economics
dc.rights.accessRights info:eu-repo/semantics/openAccess

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