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Beliefs are intuitive if they rely on associative memory, which can be described as a network of associations between events. A belief-theoretic characterization of the model is provided, its uniqueness properties are established, and the intersection with the Bayesian model is characterized....
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Many papers have reported behavioral biases in belief formation that come on top of standard game-theoretic reasoning. We show that the processes involved depend on the way participants reason about their beliefs. When they think about what everybody else or another "unspeci fied" individual is...
Persistent link: https://www.econbiz.de/10012308290
Belief elicitation is important in many different felds of economic research. We show that how a researcher elicits such beliefs-in particular, whether the belief is about the participant's opponent, an unrelated other, or the population of others-affects the processes involved in the formation...
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This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would …
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We study the influence of reason and intuition on decision making over time. Facing a sequence of similar problems …, agents can either decide rationally according to expected utility theory or intuitively according to case-based decision …
Persistent link: https://www.econbiz.de/10010464891