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Bounded rationality as a source of loss aversion and optimism : a study of psychological adaption under incomplete information
Yao, Jing; Li, Duan - In: Journal of economic dynamics & control 37 (2013) 1, pp. 18-31
Persistent link: https://www.econbiz.de/10009703615
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Bounded Rationality as a Source of Loss Aversion and Optimism : A Study of Psychological Adaptation Under Incomplete Information
Yao, Jing - 2013
We develop a formal model to investigate the implications of bounded rationality for the origin and structure of loss aversion and optimism in marketplaces. Based on Simon's original description, we explicitly model bounded rationality as a decision mechanism that captures incomplete...
Persistent link: https://www.econbiz.de/10013094553
Cover Image
Bounded rationality as a source of loss aversion and optimism: A study of psychological adaptation under incomplete information
Yao, Jing; Li, Duan - In: Journal of Economic Dynamics and Control 37 (2013) 1, pp. 18-31
We develop a formal model to investigate the implications of bounded rationality for the origin and structure of loss aversion and optimism in marketplaces. Based on Simon's original description, we explicitly model bounded rationality as a decision mechanism that captures incomplete...
Persistent link: https://www.econbiz.de/10010594911