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information a decision maker can acquire, pay attention to, or absorb via an information choice process (ICP). An ICP specifies …
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procedure. At any given trial, the decision maker deliberately randomizes over mental categories and chooses the best item … decision maker picks the default option. We provide the necessary and sufficient conditions that characterize this model in a …
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remedy for these shortcomings by developing a dynamical model of procedurally rational decision making. The basic idea of the … model is a feedback loop between experienced utility, decision utility, and activities. In applications of the model, I show …
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Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under …
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