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When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the idea of consideration sets. Consumers engage in a...
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of choice of its citizens. Albeit its practical and theoretical importance, there is yet no incentivised tool to elicit … for an informed choice and individuals with a strong focus on the outcome are more likely to opt for an uninformed choice …
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