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elaborated. These decisions are taken by individuals that constantly rely on their intuition and heuristics to support their … decision-making processes. Although heuristics tend to be very helpful, in many cases, they can lead to cognitive biases. This …
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elements together, the author presents a seminal model combining preferences and heuristics to explain choices in the …
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We study a simple model of commuting subsidies with two transport modes. City residents choose where to live and which mode to use. When all land is owned by city residents, one group gains from subsidies what the other loses. With absentee landownership, city residents as a group gain at the...
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