Showing 1 - 10 of 11
, structural estimates of present bias, hyperbolicity and transitivity violations – are driven by complexity rather than time or … intertemporal decisions. Second, intertemporal choice anomalies are highly correlated with indices of complexity responses including … to complexity severely inflates structural estimates of present bias. …
Persistent link: https://www.econbiz.de/10014290237
We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems … important complexity feature in the indices is a measure of the excess dissimilarity of the cumulative distribution functions of … the lotteries in the set. Using our complexity indices, we study behavioral responses to complexity out-of-sample across …
Persistent link: https://www.econbiz.de/10014377618
computational complexity of the decision problem. These results point to the context-dependence of what comes to mind and the …
Persistent link: https://www.econbiz.de/10012207896
This paper studies the relevance of cognitive uncertainty – subjective uncertainty over one’s utility-maximizing action – for understanding and predicting intertemporal choice. The main idea is that when people are cognitively noisy, such as when a decision is complex, they implicitly...
Persistent link: https://www.econbiz.de/10012799772
their capacity to reason about others are dependent on the complexity of individual games. This context-dependence is …
Persistent link: https://www.econbiz.de/10015096829
We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems … important complexity feature in the indices is a measure of the excess dissimilarity of the cumulative distribution functions of … the lotteries in the set. Using our complexity indices, we study behavioral responses to complexity out-of-sample across …
Persistent link: https://www.econbiz.de/10014340230
This paper studies the relevance of cognitive uncertainty - subjective uncertainty over one’s utility-maximizing action - for understanding and predicting intertemporal choice. The main idea is that when people are cognitively noisy, such as when a decision is complex, they implicitly treat...
Persistent link: https://www.econbiz.de/10012697938
computational complexity of the decision problem. These results point to the context-dependence of what comes to mind and the …
Persistent link: https://www.econbiz.de/10012171711
Persistent link: https://www.econbiz.de/10012109364
, structural estimates of present bias, hyperbolicity and transitivity violations - are driven by complexity rather than time or … intertemporal decisions. Second, intertemporal choice anomalies are highly correlated with indices of complexity responses including … to complexity severely inflates structural estimates of present bias. …
Persistent link: https://www.econbiz.de/10014247072