Validating the Postulates of rational Choice in the Context of economical Fuel Consumption of Vehicles

Mullat, Joseph (2023): Validating the Postulates of rational Choice in the Context of economical Fuel Consumption of Vehicles.

Abstract

We have introduced an innovative procedure called "blind statistical scoring" that simplifies the analysis of statistical indicators. This procedure aligns with the principle of parsimony, also known as Ockham's razor. By applying this procedure, we confirm several postulates within the concept of bounded rationality of choice. To illustrate this phenomenon, we conducted an experiment with the data provided by Spritmonitor.de website, which contains data, search results, texts, graphics, software and other information.

• Item Type: MPRA Paper
• Language: English
• Keywords: car market; fuel impulses; monotonic; Ockham's razor; kernel/closer
• Subjects: C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C12 - Hypothesis Testing: General; C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C15 - Statistical Simulation Methods: General; G - Financial Economics > G0 - General; G - Financial Economics > G0 - General > G02 - Behavioral Finance: Underlying Principles; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R4 - Transportation Economics; Y - Miscellaneous Categories > Y1 - Data: Tables and Charts; Y - Miscellaneous Categories > Y1 - Data: Tables and Charts > Y10 - Data: Tables and Charts

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