Showing 1 - 10 of 62,899
function and set of information. The combination of both the conscious and unconscious agents is called the "dual agent". This …This paper extends the notion of the rational agent in economics by acknowledging the role of the unconscious in the … agent�s decision-making process. It argues that the unconscious can be modelled by a rational agent with his own objective …
Persistent link: https://www.econbiz.de/10008924813
function and set of information. The combination of both the conscious and unconscious agents is called the "dual agent". This …This paper extends the notion of the rational agent in economics by acknowledging the role of the unconscious in the … agent's decision-making process. It argues that the unconscious can be modelled by a rational agent with his own objective …
Persistent link: https://www.econbiz.de/10011112481
conscious", "the unconscious", and "the body". We show that, when the unconscious strategically dominates, the equilibrium is … unconscious-optimal, but body and conscious-suboptimal. In particular, the unconscious may drive the conscious towards its goals … cyclicality is present when agents are forward-looking, but can be dampened depending on the conscious sensitivity to other agents …
Persistent link: https://www.econbiz.de/10011170147
, with its normative vs. descriptive framework. The combination of these two types of probabilistic psychology culminated in …
Persistent link: https://www.econbiz.de/10011346453
This paper summarizes and highlights different methodological approaches to behavioural economics in the context of the conventional economic wisdom and the implications of these different methodological approaches for financial literacy, related institutional change, and public policy....
Persistent link: https://www.econbiz.de/10010693381
The focus of this study is on black markets which provide an important segment of the parallel economy. These markets operate in disequilibrium,search and information costs become very important.Trafficking in drugs taken as case, to explore both theoretically and empirically. The problem,...
Persistent link: https://www.econbiz.de/10009422026
function and set of information. The combination of both the conscious and unconscious agents is called the dual agent. This …This paper extends the notion of the rational agent in economics by acknowledging the role of the unconscious in the … agent's decision-making process. It argues that the unconscious can be modelled by a rational agent with his own objective …
Persistent link: https://www.econbiz.de/10014184187
structures, conscious and unconscious. Each agent utility form depends both on external signals and other structures' actions … interactions' strength. However, if unconscious has a strategic advantage, greater stability is reached. By manipulating other … that some switch in the conscious' objective can appear. Behaviors that can't be explained with a single utility can thus …
Persistent link: https://www.econbiz.de/10013110621
This paper discusses the ways by which a certain type of behavioral deviation from expected utility theory has been handled by psychologists and economists. With respect to the historical background of decision theory in economics, it is argued that there are good reasons for more theoretical...
Persistent link: https://www.econbiz.de/10010860430
, with its normative vs. descriptive framework. The combination of these two types of probabilistic psychology culminated in …
Persistent link: https://www.econbiz.de/10010325337