Simple and Inertial Behavior: An Optimizing Decision Model with Imprecise Perceptions
AbstractSimplicity and inertial (or status-quo) bias are common features of actual decision rules used by real-life agents. In this paper, we provide one possible rationale for these features in terms of a model in which the decision maker is subject to imprecise perceptions about the consequences of action that differ from (an already experienced) status quo.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 3 (1993)
Issue (Month): 1 (January)
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- Kets, W., 2008. "Networks and Learning in Game Theory," Open Access publications from Tilburg University urn:nbn:nl:ui:12-378199, Tilburg University.
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- JÃ¶rgen Weibull & Lars-GÃ¶ran Mattsson & Mark Voorneveld, 2007. "Better May be Worse: Some Monotonicity Results and Paradoxes in Discrete Choice Under Uncertainty," Theory and Decision, Springer, vol. 63(2), pages 121-151, September.
- Voorneveld, Mark, 2002. "Preparation and toolkit learning," Working Paper Series in Economics and Finance 485, Stockholm School of Economics.
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