Proximity and Stochastic Choice | Humanities & Social Sciences

Proximity and Stochastic Choice

Tuesday Seminar
Speaker: 
Saptarshi Mukherjee (IIT Delhi)
Date and Time: 
Tue, 07/04/2015 - 12:00am
Schedule: 
02:57 PM to 04:27 PM
Venue: 
Humanities Committee Room (MS 610)

Abstract:

We model a decision-maker whose choice responses exhibit variability. Although many models in economic choice deal with deterministic behavior, market and experimental data often reveal stochastic nature of decision-making (McFadden (2000)). In our model the decision-maker observes the options as a list and we conceptualize the decision-making as a two-stage process: the agent may not evaluate all possible options in a list l but only considers a subset (possibly strict) of it, called consideration list C(l). The model presents testable axioms and characterizes the choice behavior and also identifies preferences and rules for consideration list formation.

Bio:

Dr. Mukherjee has a PhD in quantitative economics from ISI Delhi, followed by a post-doc at Universitat Autonoma de Barcelona. After brief stints at SNU and IIIT, he joined IIT-D in December 2014. His areas of research are game theory, social choice and mechanism design theory.

Please contact Arudra Burra (burra@hss.iitd.ac.in) for more information.

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