Showing 1 - 10 of 1,794
We challenge the standard definition of economic rationality as consistency by making use of a novel distinction … evidence raises doubts about the choice of language that equates consistency with rationality in economics. …
Persistent link: https://www.econbiz.de/10014323610
interactions in and across organizations. In the game theoretic conception of rationality, agents reason iteratively about each …
Persistent link: https://www.econbiz.de/10013324375
problem can be treated in different ways in a wider perspective of ecological rationality by approaches of resolution …
Persistent link: https://www.econbiz.de/10012828333
This article studies the causal effect of education on decision-making. In 1972 England raised its minimum school-leaving age from 15 to 16 for students born after September 1, 1957. An online survey was conducted with 2,700 individuals born in a 36-month window on either side of this date....
Persistent link: https://www.econbiz.de/10012913522
We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true preferences. First, we elicit axiom and gamble preferences and then allow subjects to revise their potentially conflicting preferences. Among the behavioral patterns that allow for...
Persistent link: https://www.econbiz.de/10014556632
We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true preferences. First, we elicit axiom and gamble preferences and then allow subjects to revise their potentially conflicting preferences. Among the behavioral patterns that allow for...
Persistent link: https://www.econbiz.de/10014578322
This article features an interdisciplinary debate and dialogue about the nature of mind, perception, and rationality … biology — offer critiques and commentaries of a target article by Felin, Koenderink, and Krueger: “Rationality, Perception … concerning rationality and the all-seeing-eye argument, including the nature of judgment and reasoning, biases versus heuristics …
Persistent link: https://www.econbiz.de/10012945787
Recent theoretical and empirical work characterizes attention as a limited resource that decision-makers strategically allocate. There has been less research on the dynamic interdependence of attention: how paying attention now may affect performance later. In this paper, we exploit...
Persistent link: https://www.econbiz.de/10012549756
This paper proposes a model of attention allocation in decision-making. Attention has various definitions across the literature. Here, I understand attention as selecting information for costly processing. The paper investigates how an agent rationally allocates attention. The resulting...
Persistent link: https://www.econbiz.de/10011514816
An agent wants to derive her belief over outcomes based on past observations collected in her database (memory). There is well establish evidence in the psychology and marketing literature that agents consistently fail (or choose not) to process all available information. An agent might be...
Persistent link: https://www.econbiz.de/10010403098