Can heuristic information processing affect important product markets? We explore whether the tendency to focus on the … this heuristic behavior is primarily attributable to the final used-car customers or the used-car salesmen who buy cars in … significance of these results for the literature on inattention and point to other market settings where this type of heuristic …

processes, biases in belief updating, the representativeness heuristic as a possible unifying theory, and interactions between … modern behavioral economics. This chapter reviews theory and evidence on this topic, with the goal of facilitating more …

expectations with less naïve learning rules. Our results suggest that fast and frugal robust heuristics may not be a second …

Heuristic models have been proposed for many domains of choice. We compare heuristic models of intertemporal choice …-of-sample, cross-validated comparison of intertemporal choice models. Heuristic models outperform traditional utility discounting …. We conclude that heuristic models explain time-money tradeoff choices in experiments better than utility discounting …

structure is relevant in many applications. We develop the theory underlying optimal menus of non-linear schedules and prove …