Adam Smith Business School

Professor Marco Mariotti, Queen Mary University of London

"Repetition aversion and revealed preference"
Tuesday, 12 November 2024. 16:00-17:30
Room 141A, Adam Smith Business School

Abstract

We model an agent who has an intrinsic preference over objects, but is also “repetition averse”. Repetition aversion breaks in a fundamental way the link between preference and choice: even when x is both intrinsically better than y and less repetition aversive, it may not be chosen more frequently. In general, what are the behavioural implications of repetition aversion? We fully characterize repetition averse choice sequences. The key insight for revealed preference in the baseline model is that an object x is intrinsically better than an object y if and only if whenever y follows x in the sequence before x is chosen again, it does so faster than x ever follows itself.

Bio

I’m a Professor of Economics at the School of Economics and Finance, Queen Mary University of London. My research interests are in choice theory (especially bounded rationality), social choice and ethics, and economic theory in general. I’m also interested in empirical applications to economic problems, and in experimental work in these areas.

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First published: 15 October 2024