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A central question in game theory and artificial intelligence is how a rational agent should behave in a complex …
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In order to incorporate recent developments in Bounded Rationality and Behavioral Economics into Choice Theory, we …
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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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