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Implementation rationality : the nexus of psychology and economics at the RAND logistics systems laboratory, 1956-1966s

Klein, Judy L. - 2015 - Version 3

simulation to translate the broad findings of normative microeconomics into detailed, implementable pr ocedures for US Air Force … oper ations. The laboratory was housed in the training simulation facilities that had been recently vacated by … problems. Economists went from using simulation to demonstrate the superiority of optimal policies derived from deductive …

Persistent link: https://www.econbiz.de/10011600635

An Empirical Model of Learning Under Ambiguity : The Case of Clinical Trials

Fernandez, Jose M. - 2014

In this paper, I present an empirical model of learning under ambiguity in the context of clinical trials. Patients are concern with learning the treatment effect of the experimental drug, but face the ambiguity of random group assignment. A two dimensional Bayesian model of learning is proposed...

Persistent link: https://www.econbiz.de/10014048207

Consequences of misspecified mental models : contrasting effects and the role of cognitive fit

Martignoni, Dirk; Menon, Anoop; Siggelkow, Nicolaj - In: Strategic management journal 37 (2016) 13, pp. 2545-2568

Persistent link: https://www.econbiz.de/10011578066

Resolving the judgment and decision-making paradox between adaptive learning and escalation of commitment

Wong, Kin Fai Ellick; Kwong, Jessica Y. Y. - In: Management science : journal of the Institute for … 64 (2018) 4, pp. 1911-1925

Persistent link: https://www.econbiz.de/10011855751

Implementation Rationality : The Nexus of Psychology and Economics at the RAND Logistics Systems Laboratory, 1956-1966

Klein, Judy - 2015

simulation to translate the broad findings of normative microeconomics into detailed, implementable procedures for US Air Force … operations. The laboratory was housed in the training simulation facilities that had been recently vacated by psychologists … problems. Economists went from using simulation to demonstrate the superiority of optimal policies derived from deductive …

Persistent link: https://www.econbiz.de/10013015484

The Behavior of the Exchange Rate in the Genetic Algorithm and Experimental Economies

Arifovic, Jasmina - 1998

This paper studies the behavior of the exchange rate in the Kareken-Wallace overlapping generations economy with two currencies in which decision rules are updated using the genetic algorithm. The analysis shows that a stationary monetary equilibrium of the Kareken-Wallace model is not stable...

Persistent link: https://www.econbiz.de/10014085392