Essays in microeconomic modelling of the burden of choice

Santoul, Jérôme Pierre Gilles (2022) Essays in microeconomic modelling of the burden of choice. PhD thesis, University of Glasgow.

Abstract

This thesis in applied microeconomics theory looks at three situations where economic agents have to make a decision under constraints that present a major burden. The burden can manifest itself in different ways. The first chapter presents a model of the market for top-level football players. The second chapter presents a new perspective on exploding offers and how agents can deal with them. The third and last chapter deals with how agents can overcome choice overload by using products’ characteristics. In each case, I will put forward a theoretical model to represent each burden faced by economic agents, attempt to solve the model and show the properties of the equilibrium solution in terms of welfare. The research aims at showing that the impact of choice overload on agents’ welfare can be mitigated, provided the correct conditions are met.

Football teams recruiting football players can avoid going into deficit if the market is sufficiently homogeneous compared to the cost of players. Exploding offers will be as efficient as open offers provided the lifetime of exploding offers is above a critical value. Finally, agents can use a choice among acceptable utility heuristic to perform efficient choices that satisfy WARP over a subset of the menu.

• Item Type: Thesis (PhD)
• Qualification Level: Doctoral
• Subjects: H Social Sciences > HB Economic Theory
• Colleges/Schools: College of Social Sciences > Adam Smith Business School > Economics
• Supervisor's Name: Moulin, Professor Hervé and Hayashi, Professor Takashi
• Date of Award: 2022
• Depositing User: Theses Team
• Unique ID: glathesis:2022-82825
• Copyright: Copyright of this thesis is held by the author.
• Date Deposited: 25 Apr 2022 11:05
• Last Modified: 25 Apr 2022 11:06
• Thesis DOI: 10.5525/gla.thesis.82825
• URI: https://theses.gla.ac.uk/id/eprint/82825