Simple and Inertial Behavior: An Optimizing Decision Model with Imprecise Perceptions
Simplicity 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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Volume (Year): 3 (1993)
Issue (Month): 1 (January)
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