On second thoughts, selective memory, and resulting behavioral biases

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F17%3A00497212" target="_blank" >RIV/67985998:_____/17:00497212 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
On second thoughts, selective memory, and resulting behavioral biases
Original language description
A proposed model of information processing generates a prediction about the constrained- optimal stochastic choice that is robust to details of the feasible information structures. Andecision-maker processes payo -relevant information until she reaches her cognitive constraint,nat which point she either terminates the decision-making and chooses an action, or restarts thenprocess. By conditioning the probability of termination on the information collected, she controlsnthe correlation between the payo state and her terminal action. The constrained-optimal choice rule exhibits (i) con rmation bias, (ii) speed-accuracy complementarity, (iii) overweighting of rare events, and (iv) salience e ect.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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