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methodology, we conducted a laboratory experiment that allowed us to isolate behavioral biases and personality traits and measure …
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If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely … theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a … formal implication of quantified uncertainty rather than an ecologically meaningful objective, the rationality question …
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Public choice theory has originally been motivated by the need to correct the asymmetry, widespread in traditional welfare economics, between the motivational assumptions of market participants and policymakers: Those who played the game of politics should also be considered rational and...
Persistent link: https://www.econbiz.de/10010238281
thus to display inertial behavior): A cognitive bias referred to as cognitive inertia and a bound on rationality which we …
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Understanding the role of emotion in forming preferences is critical in helping firms choose effective marketing strategies and consumers make appropriate consumption decisions. In five experiments, participants made a set of binary product choices under conditions designed to induce different...
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