On observable restrictions of limited consideration models: analysis through experimental data

2019 Fiscal Year Final Research Report

• Project/Area Number: 19K20903
• Project/Area Number (Other): 18H05705 (2018)
• Research Category: Grant-in-Aid for Research Activity Start-up
• Allocation Type: Multi-year Fund (2019); Single-year Grants (2018)
• Review Section: 0107:Economics, business administration, and related fields
• Research Institution: Waseda University
• Principal Investigator: Inoue Yuta 早稲田大学, 政治経済学術院, 助手 (60823771)
• Project Period (FY): 2018-08-24 – 2020-03-31
• Keywords: 顕示選好理論 / Limited consideration / Limited attention / Rational shortlisting / Bronars' test / Selten's index

Outline of Final Research Achievements

The object of this project was to provide theoretical and empirical analyses of limited consideration models (henceforth LC models), which is a field in the theory of bounded rationality. Theoretically, we succeeded in deriving necessary and sufficient conditions under which we can say that observed choice dataset is consistent with some well-studied LC models, in a form that they can be applied to data analysis. In addition, we gathered choice data through an experiment, and discussed whether LC models are plausible in explaining actual choice behavior, in addition to discussing which LC model is plausible in what degree in explaining choice behavior.

Free Research Field

ミクロ経済学理論；顕示選好理論；限定合理性

Academic Significance and Societal Importance of the Research Achievements

経済学において古典的な消費者理論の仮定する完全合理性が成立しないことは多くの実証研究で明らかにされてきた。そこで限定的な合理性のみを仮定する消費者理論（限定合理性の理論）の研究が幅広く行われてきたが、それらの多くは理論研究のみに焦点を当てるもので、実証への応用可能性が考慮されたものは少なく、実証分析を行ったものは存在しなかった。Limited considerationモデルの実証分析を行った本研究は、限定合理性の理論全般に対しても先駆的な研究であるといえる。