errors in decision making are inevitable. Moreover, under the appropriate conditions, these decisions are random conditional … situations than would be possible with randomized control trials. This point is illustrated with data from medical decision …

-consistent expectations. This implicitly assumes unrealistic cognitive abilities on the part of economic decision makers. The relevant … question, however, is not whether the assumption can be literally correct, but how much it would matter to model decision … problems such as chess or go, in which decision makers look ahead only a finite distance into the future, and use a value …

the current state can be found by applying statistical regression methods to past macroeconomic data. Theory is only …

In a very broad class of dynamic linear models, if agents possess knowledge of current endogenous variables in a least …

not to be true there is no significant difference in average decision lags. Furthermore, and also surprisingly, there is … no significant difference in the decision lag when groups decisions are made by majority rule versus when they are made …