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Preference dynamics : a procedurally rational model of time and effort allocation

Krecik, Markus - 2024

Current time allocation and household production models face three major weaknesses: First, they only describe the average time allocation. Thus, information about the order of activities is lost. Therefore, it is impossible to describe the influence of activities on later ones. Such...

Persistent link: https://www.econbiz.de/10014480143

Persuasion against self-control problems

Wangenheim, Jonas von - 2018

I derive a social planner's optimal information design in an environment with quasi-hyperbolic discounting consumers without commitment. Consumption induces instantaneous utility, but unknown delayed cost. Consumers may or may not acquire additional costless information on the cost parameter....

Persistent link: https://www.econbiz.de/10011902726

On the causes and consequences of deviations from rational behavior

Zēgners, Dainis; Sunde, Uwe; Strittmatter, Anthony - 2020

This paper presents novel evidence for the prevalence of deviations from rational behavior in human decision making - and for the corresponding causes and consequences. The analysis is based on move-by-move data from chess tournaments and an identification strategy that compares behavior of...

Persistent link: https://www.econbiz.de/10012237567

Ever since Allais

Dembo, Aluma; Kariv, Shachar; Polisson, Matthew; Quah, … - 2021

Persistent link: https://www.econbiz.de/10012821448

Rationality is not consistency

Caliari, Daniele - 2023

We challenge the standard definition of economic rationality as consistency by making use of a novel distinction … incorrect identification strategies. We conduct an experiment to investigate the factors that drive violations of consistency … evidence raises doubts about the choice of language that equates consistency with rationality in economics. …

Persistent link: https://www.econbiz.de/10014323610