Eliciting Welfare Preferences from Behavioral Datasets
An individual displays various preference orderings in different payoff-irrelevant circumstances. It is assumed that the variation in the observed preference orderings is the outcome of some cognitive process that distorts the underlying preferences of the individual. We introduce a framework for eliciting the individual's underlying preferences in such cases, and then demonstrate it for two cognitive processes -- satisficing and small assessment errors.
Rubinstein, Ariel and Yuval Salant. 2012. Eliciting Welfare Preferences from Behavioral Datasets. Review of Economic Studies. 79(1): 375-387.