Seminars

Abstract: We study how past choices affect future choices in the framework of attention. Limited attention provides an explanation to the failure of “rationality”, where better options are not chosen because the agent has failed to consider them. We innovate and consider sequences of choices, where past choices are necessarily considered in future choice problems. This provides a link between two kinds of rationality violations: those that occur in a cross-section of one-shot decisions and those that occur within a sequence of realized choices. In our setting, the former helps identify attention whereas the latter pins down true preferences. Both types of violations vanish over time and furnish a novel notion of stability.

* 본 세미나는 VEAEBES(Virtual East Asia Experimental and Behavioral Economics Seminar series) 주최로 열리는 세미나입니다.

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