Revealed Preference Analysis with Framing Effects

摘要: In many settings, seemingly arbitrary features of a decision can affect what people choose. We develop an empirical framework to recover ordinal preference information from choice data when preference-irrelevant frames behavior. Plausible restrictions varying strength permit either partial- or point-identification preferences for the decision-makers who choose consistently across frames. Recovering population requires understanding relationship between decision-makers’ and their consistency. tools studying this illustrate them with on automatic enrollment into pension plans. The results suggest that 70 percent default-sensitive employees prefer but default non-enrollment may be optimal young, low-income employees.