Boundedly rational expected utility theory
We build a satisficing model of choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her underlying set of EU preferences until the evidence...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer New York LLC
2018
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |