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Tractable valuations under uncertainty

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  • Sákovics, József

Abstract

I put forward a concise and intuitive formula for the calculation of the valuation for a good in the presence of the expectation that further, related, goods will soon become available. This valuation is tractable in the sense that it does not require the explicit resolution of the consumerís life-time problem.

Suggested Citation

  • Sákovics, József, 2014. "Tractable valuations under uncertainty," SIRE Discussion Papers 2015-41, Scottish Institute for Research in Economics (SIRE).
    • Handle: RePEc:edn:sirdps:629
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    File URL: http://hdl.handle.net/10943/629
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    References listed on IDEAS

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    1. Daniel Friedman & József Sákovics, 2015. "Tractable consumer choice," Theory and Decision, Springer, vol. 79(2), pages 333-358, September.
    2. József Sákovics, 2013. "Revealed cardinal preference," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(1), pages 39-45, May.
    3. József Sákovics, 2011. "Reference distorted prices," Quantitative Marketing and Economics (QME), Springer, vol. 9(4), pages 339-363, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    distributed choice; quasi-linear utility; value for money;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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