Fehr, Ernst; Epper, Thomas; Senn, Julien - 2023
Parsimony is a desirable feature of economic models but almost all human behaviors are characterized by vast individual … variation that appears to defy parsimony. How much parsimony do we need to give up to capture the fundamental aspects of a … that makes the trade-off between parsimony and descriptive accuracy explicit, we show that three preference types - an …