کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5071920 | 1477074 | 2014 | 32 صفحه PDF | دانلود رایگان |
- I present a model of choice based on imperfect memory and self-deception.
- The model provides a prior-dependent theory of regret aversion and allows for prior-dependent information attitudes.
- Behavior converges to the one predicted by expected utility theory after the choice has been faced a large number of times.
This paper presents a model of choice based on imperfect memory and self-deception. I assume that people have preferences over their own attributes (e.g., skill, knowledge, or competence) and can manipulate their memories. The model provides a prior-dependent theory of regret aversion and allows for prior-dependent information attitudes. It implies that behavior will converge to the one predicted by expected utility theory after a choice has been faced a sufficiently large number of times.
Journal: Games and Economic Behavior - Volume 85, May 2014, Pages 127-158