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substantially improves upon existing economic theory. In contrast to existing theory, a number of recent health science writers have … highest rates of obesity. The essence of the theory is that obesity is the expected result when vulnerable people with low …
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This paper analyzes a boundedly rational decision maker who is uncertain about his preference and faces the following trade-off: adding a good to the choice set has a positive option value but increases the complexity of the choice problem. The increased complexity is modeled as a reduction of...
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