The Scarcity Bias: Some Theoretical Notes

Mittone, Luigi and Soraperra, Ivan (2006) The Scarcity Bias: Some Theoretical Notes. UNSPECIFIED. (Unpublished)

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    Abstract

    The bias generated by the subjective perception of scarcity on the consumer’s choice is discussed from a theoretical perspective. The core idea here discussed is that scarcity is an Lancasterian attribute of the goods which is not endogenously built in the goods, like many physical attributes, color, weight, etc. but which is dependent from the context where the good is consumed. The exogenously nature of scarcity requires a specific theoretical treatment which is here attempted.

    Item Type: Departmental Technical Report
    Department or Research center: CEEL (Computable and Experimental Economics Laboratory)
    Subjects: UNSPECIFIED
    Uncontrolled Keywords: Scarcity, Decision-making, Economic behavior, Economic theory
    Report Number: 3-06
    Repository staff approval on: 05 Dec 2006

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