Now showing items 1-3 of 3
Partial knowledge restrictions on the two-stage threshold model of choice
(2016-05) - Journal article
In the context of the two-stage threshold model of decision making, with the agent's choices determined by the interaction of three "structural variables," we study the restrictions on behavior that arise when one or more ...
Welfare economics and bounded rationality : The case for model-based approaches
(2014-12) - Journal article
In this paper we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the ...
State dependent choice
(2015-09) - Journal article
We propose a theory of choices that are influenced by the psychological state of the agent. The central hypothesis is that the psychological state controls the urgency of the attributes sought by the decision maker in the ...