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Simone Galperti, Francesco Cerigioni, Listing Specs: The Effect of Framing Attributes on Choice, Journal of the European Economic Association, Volume 22, Issue 2, April 2024, Pages 528–574, https://doi.org/10.1093/jeea/jvad032
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Abstract
Consistent evidence across important domains shows that people’s decisions can depend on the order or emphasis with which the attributes of the available options are presented to them. We introduce the first model of such framing effects, which we characterize in terms of observable behavior. We apply the model to study how the strategic use of attribute framing affects the outcomes of negotiations and competition in markets. We extend the model to stochastic-choice frameworks, which are often used in practice.
© The Author(s) 2023. Published by Oxford University Press on behalf of European Economic Association.
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