Скачать или смотреть Mixture Choice Data: Revealing Preferences and Cognition

Mixture choice data consist of the joint distribution of choices of a
group of agents from a collection of menus, comprising the implied
stochastic choice function plus any cross-menu correlations. When
boundedly rational decision makers are heterogeneous with respect to
both preferences and cognition, we demonstrate that these two
components of behavior are identified simultaneously by suitable
mixture choice data. We extend this finding to specialized models of
random satisficing thresholds and quantal Fechnerian choice, which we
employ together with a simulated mixture choice dataset to illustrate
the application of our empirical framework. We finally show potential
applications to estimating risk aversion in choice experiments.