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Simple and Inertial Behavior: An Optimizing Decision Model with Imprecise Perceptions

Vega-Redondo, Fernando (1993) 'Simple and Inertial Behavior: An Optimizing Decision Model with Imprecise Perceptions.' Economic Theory, 3 (1). pp. 87-98. ISSN 0938-2259

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Abstract

Simplicity and inertial (or status-quo) bias are common features of actual decision rules used by real-life agents. In this paper, we provide one possible rationale for these features in terms of a model in which the decision maker is subject to imprecise perceptions about the consequences of action that differ from (an already experienced) status quo.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 06 Jan 2013 09:32
Last Modified: 06 Jan 2013 09:32
URI: http://repository.essex.ac.uk/id/eprint/4971

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