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.date.modified 2020-05-25T09:26:07Z
- 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.identifier https://econ-papers.upf.edu/ca/paper.php?id=1673
- dc.identifier.citation
- dc.identifier.uri http://hdl.handle.net/10230/44798
- 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.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- 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.title Dual decision processes: retrieving preferences when some choices are automatic
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper