Showing 1 - 10 of 1,441
Satisficing is a hugely influential model of boundedly rational choice, yet it cannot be easily tested using standard … choice data. We develop necessary and sufficient conditions for stochastic choice data to be consistent with satisficing …, assuming that preferences are fixed, but search order may change randomly. The model predicts that stochastic choice can only …
Persistent link: https://www.econbiz.de/10011333023
Persistent link: https://www.econbiz.de/10011574162
This is the first definitive introduction to behavioral economics aimed at advanced undergraduate and postgraduate students. Authoritative, cutting edge, yet accessible, it guides the reader through theory and evidence, providing engaging and relevant applications throughout
Persistent link: https://www.econbiz.de/10011485040
Economics of Risk, Uncertainty, and Ambiguity -- Introduction to part 1 -- CHAPTER 1: The Evidence on Human Choice under Risk …
Persistent link: https://www.econbiz.de/10011842941
Persistent link: https://www.econbiz.de/10009533407
Persistent link: https://www.econbiz.de/10012264055
In this paper, I seek to establish a framework in which solutions to imperfect recall decision problems can be suitably examined. I introduce a strategy concept which is an extension of the standard concept employed since von Neumann and Morgenstern, and show how it may provide optimal solutions...
Persistent link: https://www.econbiz.de/10011545421
Persistent link: https://www.econbiz.de/10011654617
application is a satisficing filter that induces a filtered belief that relies only on past experiences that are sufficiently …
Persistent link: https://www.econbiz.de/10010403098
Persistent link: https://www.econbiz.de/10010478278