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This paper is about freedom of choice and rigidity of choice rules as incentive devices. We study the optimal design of an agent's freedom of choice when his information is endogenous and costly to acquire. We show that curtailing the agent's authority over decision-making may be optimal even if...
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choices. These feedbacks are in and of themselves not unique to complex environments. After all, elementary economics teaches …
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underpinning the culture wars over race and immigration, sexuality, gender roles, and religion influence debates about economics …, binding cultural and economic preferences together in unexpected ways. Integrating insights from both psychology and political … of economic preferences; 2. The psychology of ideology; 3. A dual-pathway model of openness and economic preferences; 4 …
Persistent link: https://www.econbiz.de/10011610932
Mainstream economists are reluctant to integrate features of bounded rationality into their behavioural assumptions. However, particularly in the field of economic policy the scope for irrational behaviour is given, since voters lack incentives for rational reasoning concerning their voting...
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