On second thoughts, selective memory, and resulting behavioral biases

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

On second thoughts, selective memory, and resulting behavioral biases

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

On second thoughts, selective memory, and resulting behavioral biases

Popis výsledku anglicky

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.

Druh

O - Ostatní výsledky

CEP obor

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OECD FORD obor

50201 - Economic Theory

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů