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human errors opens greater space for paternalism. Behavioral market failures, which occur as a result of such errors, are an … objection to paternalism, the strongest objections are welfarist in character. Official action may fail to respect heterogeneity … paternalism have considerable force, but choice architecture, and sometimes a form of paternalism, are inevitable, and to that …
Persistent link: https://www.econbiz.de/10014163269
The thesis „Everyday Decision Making: A Theoretical and Empirical Study“ analyzes the individuals' decision-making and the role of institutions in creating incentives and influencing individuals' choices. The first part is descriptive and theoretical and deeply rooted in behavioral public...
Persistent link: https://www.econbiz.de/10012549757
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Launched on institutional channel by George Tintner and Armen Alchian, the principle according to which the competitive environment is the one which operates the selection forcing individuals to behave rationally was and remained a subject of methodological disputes. Once in the market, the...
Persistent link: https://www.econbiz.de/10012724506
Agent-based models typically involve large numbers of interacting individuals with widely differing characteristics, rules of behavior, and sources of information. The dynamics of such systems can be extremely complex due to their high dimensionality. This chapter discusses a general method for...
Persistent link: https://www.econbiz.de/10014222888
Agent-based models typically involve large numbers of interacting individuals with widely differing characteristics, rules of behavior, and sources of information. The dynamics of such systems can be extremely complex due to their high dimensionality. This chapter discusses a general method for...
Persistent link: https://www.econbiz.de/10014024383
This article is concerned with the welfare properties of trade when the behavior of agents cannot be rationalized by preferences. I investigate this question in an environment of matching allocation problems. There are two reasons for doing so: firstly, the finiteness of such problems entails...
Persistent link: https://www.econbiz.de/10008779117
This paper is concerned with the situation in which a profit-maximizing monopolist faces consumers that are diverse not only in their preferences but also in their levels of bounded rationality. The behavioral phenomenon considered here is the attraction effects when choices are made across...
Persistent link: https://www.econbiz.de/10010224767
This article is concerned with the welfare properties of trade when the behavior of agents cannot be rationalized by preferences. I investigate this question in an environment of matching allocation problems. There are two reasons for doing so: firstly, the finiteness of such problems entails...
Persistent link: https://www.econbiz.de/10013135180