This dissertation provides three contributions to better measure, classify and understand bounded rationality from a revealed preferences perspective. The first chapter proposes a measure of bounded rationality in the consumer theory setting. The main feature of this measure is that it is additive decomposable into, necessary for rationality, axioms of revealed demand. The second chapter studies the axiomatic characterization of a bounded rational consumer with limited attention, represented by a fuzzy set capacity, and rational preferences. This model is an extension of the deterministic rational consumer with full attention that generates random choice and accommodates violations of the deterministic revealed preferences while imposing new stochastic analogous. The third paper proposes a stochastic revealed preference test for exponential discounting behavior that is robust to the presence of measurement error, heterogeneity and non-linear budget constraints.
Aguiar, Victor H.,
"Bounded Rationality and Revealed Preferences"
(2017).
Economics Theses and Dissertations.
Brown Digital Repository. Brown University Library.
https://doi.org/10.7301/Z0VT1QHW
