Chiodo, Abbigail J.; Guidolin, Massimo; Owyang, Michael T. - 2003 - [Elektronische Ressource], rev
time and cognitive resources are limited, agents cannot always process
all of the data provided by the economic environment … might
maximizes his expected utility over n uncertain outcomes, defined as
(1) EU p U
ii
i
n
=
=
Ge5
1
,
where p
i
is the … maximize
(2) EU p U
p
i
i
n
i
=
=
Ge5
G24
1
,
where ˆ
i
p is the subjective probability of outcome i . The difference between …