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A green growth agenda requires policy makers, from local to supranational levels, to examine and influence behavior that impacts economic, social, and environmental outcomes on multiple scales. Behavioral and social change, in addition or conjunction with technological change, is thus a crucial...
Persistent link: https://www.econbiz.de/10012974875
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A green growth agenda requires policy makers, from local to supranational levels, to examine and influence behavior that impacts economic, social, and environmental outcomes on multiple scales. Behavioral and social change, in addition or conjunction with technological change, is thus a crucial...
Persistent link: https://www.econbiz.de/10012557121
ecological rationality research program, it presents the main factors that determine economic choices, before exploring the most …
Persistent link: https://www.econbiz.de/10014372512
slightly altering choice conditions (here nudge 1), they use rationality failures instrumentally (here nudge 2), and they …
Persistent link: https://www.econbiz.de/10011741579
Persistent link: https://www.econbiz.de/10009614412
Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under risky conditions. EUT uses a theoretical device called von Neumann-Morgenstern utility function, where concepts of function and random variable are employed in their...
Persistent link: https://www.econbiz.de/10012520657
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In this study we introduce a new stochastic choice rule that categorizes objects in order to simplify the choice procedure. At any given trial, the decision maker deliberately randomizes over mental categories and chooses the best item according to her utility function within the realized...
Persistent link: https://www.econbiz.de/10011526886
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