Eliciting welfare preferences from behavioural data sets

Ariel Rubinstein; Yuval Salant

doi:10.1093/restud/rdr024

Eliciting welfare preferences from behavioural data sets

Ariel Rubinstein^*, Yuval Salant

^*Corresponding author for this work

Managerial Economics, Decision Sciences and Operations

Research output: Contribution to journal › Article › peer-review

55 Scopus citations

Abstract

An individual displays various preference orderings in different payoff-irrelevant circumstances. It is assumed that the variation in the observed preference orderings is the outcome of some cognitive process that distorts the underlying preferences of the individual. We introduce a framework for eliciting the individual's underlying preferences in such cases and then demonstrate it for two cognitive processes-satisficing and small assessment errors.

Original language	English (US)
Pages (from-to)	375-387
Number of pages	13
Journal	Review of Economic Studies
Volume	79
Issue number	1
DOIs	https://doi.org/10.1093/restud/rdr024
State	Published - Jan 1 2012

Keywords

Behavioural data set
Bounded rationality
Preferences
Welfare analysis

ASJC Scopus subject areas

Economics and Econometrics

Access to Document

10.1093/restud/rdr024

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