Ofek, Elie; Yildiz, Muhamet; Haruvy, Ernan - In: Management Science 53 (2007) 8, pp. 1217-1233
This paper develops and tests a model of how recall of information from past decisions affects subsequent related decisions. A boundedly rational individual has to determine her willingness to pay for a good that she previously considered purchasing at a given price, or provide valuations for a...