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Why Bounded Rationality?

  • John Conlisk
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    File URL: http://www.e-jel.org/archive/june1996/Conlisk.pdf
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    Article provided by American Economic Association in its journal Journal of Economic Literature.

    Volume (Year): 34 (1996)
    Issue (Month): 2 (June)
    Pages: 669-700

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    Handle: RePEc:aea:jeclit:v:34:y:1996:i:2:p:669-700
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    1. Richard H. Day & E. Herbert Tinney, 1968. "How to Co-operate in Business without Really Trying: A Learning Model of Decentralized Decision Making," Journal of Political Economy, University of Chicago Press, vol. 76, pages 583.
    2. Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, Oxford University Press, vol. 106(4), pages 1039-1061.
    3. Rosenthal, Robert W., 1993. "Bargaining rules of thumb," Journal of Economic Behavior & Organization, Elsevier, vol. 22(1), pages 15-24, September.
    4. Naish, Howard F., 1993. "The near optimality of adaptive expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 20(1), pages 3-22, January.
    5. Lovell, Michael C, 1986. "Tests of the Rational Expectations Hypothesis," American Economic Review, American Economic Association, vol. 76(1), pages 110-24, March.
    6. John G. Cross, 1973. "A Stochastic Learning Model of Economic Behavior," The Quarterly Journal of Economics, Oxford University Press, vol. 87(2), pages 239-266.
    7. Abhijit V. Banerjee, 1993. "The Economics of Rumours," Review of Economic Studies, Oxford University Press, vol. 60(2), pages 309-327.
    8. Battalio, Raymond C & Kagel, John H & Jiranyakul, Komain, 1990. " Testing between Alternative Models of Choice under Uncertainty: Some Initial Results," Journal of Risk and Uncertainty, Springer, vol. 3(1), pages 25-50, March.
    9. Winston, Gordon C., 1989. "Imperfectly rational choice : Rationality as the result of a costly activity," Journal of Economic Behavior & Organization, Elsevier, vol. 12(1), pages 67-86, August.
    10. John H. Cochrane, 1988. "The Sensitivity of Tests of the Intertemporal Allocation of Consumption to Near-Rational Alternatives," NBER Working Papers 2730, National Bureau of Economic Research, Inc.
    11. John Haltiwanger & Michael Waldman, 1983. "Rational Expectations and the Limits of Rationality: An Analysis of Heterogeneity," UCLA Economics Working Papers 303, UCLA Department of Economics.
    12. Rabin, Mathew, 1991. "Cognitive Dissonance and Social Change," Department of Economics, Working Paper Series qt37b169jt, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    13. David M. Cutler & James M. Poterba & Lawrence H. Summers, 1990. "Speculative Dynamics," NBER Working Papers 3242, National Bureau of Economic Research, Inc.
    14. Jones, Stephen R G & Stock, James H, 1987. "Demand Disturbances and Aggregate Fluctuations: The Implications of Near Rationality," Economic Journal, Royal Economic Society, vol. 97(385), pages 49-64, March.
    15. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
    16. Ito, Takatoshi, 1990. "Foreign Exchange Rate Expectations: Micro Survey Data," American Economic Review, American Economic Association, vol. 80(3), pages 434-49, June.
    17. Robert W. Rosenthal, 1992. "Rules of Thumb in Games," Papers 0034, Boston University - Industry Studies Programme.
    18. Tversky, Amos & Thaler, Richard H, 1990. "Anomalies: Preference Reversals," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 201-11, Spring.
    19. Radner, Roy & Rothschild, Michael, 1975. "On the allocation of effort," Journal of Economic Theory, Elsevier, vol. 10(3), pages 358-376, June.
    20. Conlisk, John, 1980. "Costly optimizers versus cheap imitators," Journal of Economic Behavior & Organization, Elsevier, vol. 1(3), pages 275-293, September.
    21. Pingle, Mark, 1992. "Costly optimization: an experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 17(1), pages 3-30, January.
    22. Flavin, Marjorie A, 1981. "The Adjustment of Consumption to Changing Expectations about Future Income," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 974-1009, October.
    23. Camerer, Colin, 1989. " Bubbles and Fads in Asset Prices," Journal of Economic Surveys, Wiley Blackwell, vol. 3(1), pages 3-41.
    24. Grether, David M., 1990. "Testing Bayes Rule and the Representativeness Heuristic: Some Experimental Evidence," Working Papers 724, California Institute of Technology, Division of the Humanities and Social Sciences.
    25. Arthur, W Brian, 1994. "Inductive Reasoning and Bounded Rationality," American Economic Review, American Economic Association, vol. 84(2), pages 406-11, May.
    26. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    27. Slonim, Robert, 1994. "Learning in a search-for-the-best-alternative experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 25(2), pages 141-165, October.
    28. Frey, Bruno S. & Eichenberger, Reiner, 1994. "Economic incentives transform psychological anomalies," Journal of Economic Behavior & Organization, Elsevier, vol. 23(2), pages 215-234, March.
    29. Bray, Margaret, 1982. "Learning, estimation, and the stability of rational expectations," Journal of Economic Theory, Elsevier, vol. 26(2), pages 318-339, April.
    30. Blume, Lawrence E. & Easley, David, 1982. "Learning to be rational," Journal of Economic Theory, Elsevier, vol. 26(2), pages 340-351, April.
    31. Van Huyck, John B & Cook, Joseph P & Battalio, Raymond C, 1994. "Selection Dynamics, Asymptotic Stability, and Adaptive Behavior," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 975-1005, October.
    32. repec:oup:restud:v:37:y:1970:i:3:p:305-19 is not listed on IDEAS
    33. Raymond S. Hartman & Michael J. Doane & Chi-Keung Woo, 1991. "Consumer Rationality and the Status Quo," The Quarterly Journal of Economics, Oxford University Press, vol. 106(1), pages 141-162.
    34. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279.
    35. repec:oup:restud:v:50:y:1983:i:4:p:597-607 is not listed on IDEAS
    36. Shefrin, Hersh & Statman, Meir, 1985. " The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence," Journal of Finance, American Finance Association, vol. 40(3), pages 777-90, July.
    37. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-37, May.
    38. Becker, Gary S, 1993. "Nobel Lecture: The Economic Way of Looking at Behavior," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 385-409, June.
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