We unite two basic approaches to modelling limited attention in choice by showing that the
rational inattention model implies the formation of consideration sets—only a subset of the …

We provide an axiomatic analysis of dynamic random utility, characterizing the stochastic
choice behavior of agents who solve dynamic decision problems by maximizing some …

Household collective models celebrate their thirtieth birthday. The collective approach
constitutes, perhaps, the microeconomics topic that has produced the largest number of …

A vibrant literature incorporates elements of bounded rationality into choice theory. We
survey this work, discussing five central ways in which the literature has modeled departures …

We model a boundedly rational agent who exhibits limited and heterogeneous attention.
The agents' attention can be naturally sorted in an ascending order. We provide a …

Our goal is to develop a partial ordering method for comparing stochastic choice functions
on the basis of their individual rationality. To this end, we assign to any stochastic choice …

We characterize those ex-ante restrictions on the random utility model which lead to
identification. We first identify a simple class of perturbations which transfer mass from a …

We develop a partial ordering approach toward comparing stochastic choice functions on
the basis of their rationality. Loosely speaking, we do this by assigning to any stochastic …

Despite being the fundamental primitive of the study of decision-making in economics,
choice correspondences are not observable: even for a single menu of options, we observe …

We characterize the single-crossing random utility model (SCRUM)(Apesteguia et al.(2017))
restricted to the (experimentally and empirically) important domain of binary choice menus …