Recent theoretical and empirical work characterizes attention as a limited resource that decision-makers strategically … performance later. In this paper, we exploit high-frequency data on decision-making by Major League Baseball umpires to examine …

anchoring phenomenon in financial decision-making. We find that contestants anchor heavily on the initial dollar value of a clue … in their wagering decision, even though there exists no rational reason to do so. More than half of all wagers occur … manifests itself among college students. Overall, our findings suggest anchoring plays a substantial role in financial decision …

When making judgments, individuals often utilize heuristics to interpret information. We report on a series of … experiments designed to test the ways in which incentive mechanisms influence the use of a particular heuristic in decision …

cities. We dwell into concepts of bounded rationality to describe the cognitive biases and heuristics affecting decision … literature to urban theory, we can better understand how individuals make their decisions about moving to and living in cities …. We thereby offer an understanding of urbanisation and migration processes departing from economic rationality assumptions …

average total student effort. -- frequency of examinations ; education production function ; rationality …

economics, as well as bounded and ecological rationality are discussed. The paper presents new econometric evidence based on …

learning model with the theory of rational inattention introduced by Sims (2006). In the model firms optimally allocate …