Chiodo, Abbigail; Guidolin, Massimo; Owyang, Michael T.; … - Federal Reserve Bank of St. Louis - 2003
they maximize expected utility. Psychological studies, however, have shown that people tend not to adhere to these … probabilities, and that they
maximize expected utility. Psychological studies, however, have shown that people tend
not to adhere to … psychological studies, they may
be supported by economic models with boundedly-rational agents (Simon, 1955). In
other words, since …