Publication:
Aspiration-based choice

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dc.contributor.authorGüney, Begüm
dc.contributor.authorRichter, M.
dc.contributor.authorTsur, M.
dc.contributor.departmentEconomics
dc.contributor.ozuauthorGÜNEY, Begüm
dc.date.accessioned2018-10-08T13:10:37Z
dc.date.available2018-10-08T13:10:37Z
dc.date.issued2018-07
dc.description.abstractNumerous studies and experiments suggest that aspirations for desired but perhaps unavailable alternatives influence decisions. A common finding is that an unavailable aspiration steers agents to choose similar available alternatives. We propose and axiomatically characterize a choice theory consistent with this aspirational effect. Similarity is modeled using a subjective metric derived from choice data. This model offers implications for consumer welfare and its distribution between rich and poor when firms compete for aspirational agents, and a novel rationale for sales.en_US
dc.identifier.doi10.1016/j.jet.2018.05.003en_US
dc.identifier.endpage956en_US
dc.identifier.issn0022-0531en_US
dc.identifier.scopus2-s2.0-85047600680
dc.identifier.startpage935en_US
dc.identifier.urihttp://hdl.handle.net/10679/5999
dc.identifier.urihttps://doi.org/10.1016/j.jet.2018.05.003
dc.identifier.volume176en_US
dc.identifier.wos000439751500029
dc.language.isoengen_US
dc.peerreviewedyesen_US
dc.publicationstatusPublisheden_US
dc.publisherElsevieren_US
dc.relation.ispartofJournal of Economic Theory
dc.relation.publicationcategoryInternational Refereed Journal
dc.rightsinfo:eu-repo/semantics/restrictedAccess
dc.subject.keywordsChoiceen_US
dc.subject.keywordsSimilarityen_US
dc.subject.keywordsAspirationsen_US
dc.subject.keywordsConsumer welfareen_US
dc.titleAspiration-based choiceen_US
dc.typeArticleen_US
dspace.entity.typePublication
relation.isOrgUnitOfPublication2afe80e3-623c-4807-a57e-2ce75845ccea
relation.isOrgUnitOfPublication.latestForDiscovery2afe80e3-623c-4807-a57e-2ce75845ccea

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