Contextual Inference in Markets: On the Informational Content of Product Lines
论证市场均衡中，情境（如产品线）会向消费者传递与收益相关的信息，导致理性消费者违背标准选择理论，出现折中效应和选择过载等看似异常的行为。
Context can influence decisions. This malleability of choice is usually invoked as evidence that people do not maximize stable preference orderings. In a market equilibrium, however, context conveys payoff-relevant information to consumers. Consequently, these consumers rationally violate naïve formulations of standard choice theoretic principles. I identify informational asymmetries under which apparently anomalous behaviors, namely the compromise effect and choice overload, arise as market equilibria. Firms respond to consumers' contextual inference; in case of the compromise effect, a firm may introduce premium loss leaders (expensive goods of overly high quality that increase the demand for other goods).