When choice options are complex, policy makers may seek to reduce decision making errors by making a high quality option the default. We show that this positive effect is at risk because such a policy creates incentives for decision makers to "drop out" by paying no attention to the decision and...

1 Introduction to Cognitive Economics -- 2 Cognitive Household Finance -- 3 Measuring and Minimizing Mistakes -- 4 Cognitive Economics at Work -- 5 Cognitive Capital and Human-AI Interactions -- 6 Work Skills for the Cognitive Economy -- 7 Cognitive Economics in Teaching -- 8. Cognitive...

With complete information, choice of one option over another conveys preference. Yet when search is incomplete, this is not necessarily the case. It may instead reflect unawareness that a superior alternative was available. To separate these phenomena, we consider non-standard data on the...

Series Introduction. Volume Introduction. PART I: SETTING THE STAGE. 1. The Case for Mindless Economics, Faruk Gul and Wolfgang Pesendorfer. 2. The Case for Mindful Economics, Colin Camerer. 3. Whats So Informative about Choice?, Andrew Schotter. 4. On Two Points of View Regarding Revealed...