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Axiomatizing bounded rationality: the priority heuristic
Drechsler, Mareile; Katsikopoulos, Konstantinos; … - In: Theory and Decision 77 (2014) 2, pp. 183-196
of using empirical evidence on heuristics. The priority heuristic predicts actual human choices between risky gambles … well. It implies violations of expected utility theory such as common consequence effects, common ratio effects, the … fourfold pattern of risk taking and the reflection effect. We present an axiomatization of a parameterized version of the …
Persistent link: https://www.econbiz.de/10010988747
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One-reason decision-making: Modeling violations of expected utility theory
Katsikopoulos, Konstantinos; Gigerenzer, Gerd - In: Journal of Risk and Uncertainty 37 (2008) 1, pp. 35-56
Persistent link: https://www.econbiz.de/10005709699
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Axiomatization of a Preference for Most Probably Winner
Blavatskyy, Pavlo - Center for Economic Research and Graduate Education and … - 2004
represented by a skew-symmetric bilinear utility function. Such a utility function has the structure of a regret theory when …
Persistent link: https://www.econbiz.de/10005146554
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Models of bounded rationality
Simon, Herbert Alexander
Persistent link: https://www.econbiz.de/10004501150
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Bounded rationality : Problemlösung bei kognitiven Beschränkungen des Individuums und Komplexität der Umwelt
Dörenbach, Wilfried - 1982
Persistent link: https://www.econbiz.de/10004047869
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Sind Unternehmensplanspiele ein geeignetes Instrument zur Analyse begrenzter Rationalität und tatsächlichen Entscheidungsverhaltens?
Mußhoff, Oliver; Hirschauer, Norbert; Hengel, Philipp - In: Journal of International Agricultural Trade and Development 60 (2011) 3
Politik hat vielfach zum Ziel, das Verhalten von Wirtschaftssubjekten durch eine Veränderung der Rahmenbedingungen zu steuern. Bei der Politikfolgenabschätzung müssen deshalb Voraussagen gemacht werden, wie Menschen sich an veränderte ökonomische Bedingungen anpassen. Eine wichtige...
Persistent link: https://www.econbiz.de/10011143123
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Do consumers prefer offers that are easy to compare? An experimental investigation.
Crosetto, Paolo; Gaudeul, Alexia - Volkswirtschaftliche Fakultät, … - 2012
Abstract Firms can exploit consumers' mistakes when facing complex purchasing decision problems but Gaudeul and Sugden (2012) argue that if at least some consumers disregard offers that are difficult to compare with others then firms will be forced into adopting common ways to present their...
Persistent link: https://www.econbiz.de/10011260766
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Do consumers prefer offers that are easy to compare? An experimental investigation
Crosetto, Paolo; Gaudeul, Alexia - Volkswirtschaftliche Fakultät, … - 2012
make choice easier. We design an original experiment to identify consumers’ choice heuristics in the lab. Subjects are …
Persistent link: https://www.econbiz.de/10009647470
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Decision Making: Between Rationality and Reality
Polic, Marko - In: Interdisciplinary Description of Complex Systems - … 7 (2009) 2, pp. 78-89
in the complex environment. Gigerenzer showed how heuristics help in this process. …
Persistent link: https://www.econbiz.de/10008497542
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Satisficing: A 'Pretty Good' Heuristic
Bendor, Jonathan; Kumar, Sunil; Siegel, David - In: Advances in Theoretical Economics 9 (2009) 1, pp. 1478-1478
One of the best known ideas in the study of bounded rationality is Simon's satisficing; yet we still lack a standard formalization of the heuristic and its implications. We propose a mathematical model of satisficing which explicitly represents agents' aspirations and which explores both...
Persistent link: https://www.econbiz.de/10005046341