Showing 1 - 10 of 5,006
The aim of this paper is to investigate the degree of susceptibility to behavioral biases (the certainty effect, the sunk cost fallacy, and mental accounting) among people of various levels of expertise in market investments and to determine whether this susceptibility is correlated with certain...
Persistent link: https://www.econbiz.de/10011392293
Persistent link: https://www.econbiz.de/10012321212
If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely … theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a … formal implication of quantified uncertainty rather than an ecologically meaningful objective, the rationality question …
Persistent link: https://www.econbiz.de/10011990913
Public choice theory has originally been motivated by the need to correct the asymmetry, widespread in traditional welfare economics, between the motivational assumptions of market participants and policymakers: Those who played the game of politics should also be considered rational and...
Persistent link: https://www.econbiz.de/10010238281
thus to display inertial behavior): A cognitive bias referred to as cognitive inertia and a bound on rationality which we …
Persistent link: https://www.econbiz.de/10011524256
Cognitive biases distort judgement and adversely impact decision-making, which results in economic inefficiencies. Initial attempts to mitigate these biases met with little success. However, recent studies which used computer games and educational videos to train people to avoid biases (Clegg et...
Persistent link: https://www.econbiz.de/10012149989
Persistent link: https://www.econbiz.de/10001466122
Persistent link: https://www.econbiz.de/10003767635
Persistent link: https://www.econbiz.de/10012415226
Persistent link: https://www.econbiz.de/10011700921