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The paper gives an account of several well-known cognitive illusions in terms of contextual defaults which guide intuition where familiar cues are ambiguous. When the default is inappropriate, as it sometimes must be, the result is a cognitive illusion. In contrast to Kahneman & Tversky...
Persistent link: https://www.econbiz.de/10005703907
I introduce the notion of "neglect defaulting", which labels the propensity to neglect possibilities which are ordinarily sensibly neglected. In familiar contexts we are well-tuned to recognize when to override the default. But outside the range of familiar experience – here in the artificial...
Persistent link: https://www.econbiz.de/10005703916
This is a set of short papers commenting on the work on pivotal voting initiated by Austin-Smith & Banks (1996). It covers the ASB paper, plus a particularly prominent sequence of follow-on results by Feddersen & Pesendorfer (1996, 1998, 1999a, 1999b). The aim is to reproduce the results in a...
Persistent link: https://www.econbiz.de/10005703920
Levine & Palfrey's (2007) QRE account of turnout in large elections raises the broader question of how much of a departure from standard rational choice theory is justified by the considerable repertoire of rational choice anomalies that has accumulated since Downs and Olson half a century ago....
Persistent link: https://www.econbiz.de/10005703921
The paper develops an account of anomalous behavior in work at the intersection of cognition and experimental economics. The anomalies are choices which conflict with both agents' self-interest and also with any plausible other-regarding interests. I review three examples, and provide evidence...
Persistent link: https://www.econbiz.de/10005703923
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