Citation
M. Pringle et Rh. Day, MODES OF ECONOMIZING BEHAVIOR - EXPERIMENTAL-EVIDENCE, Journal of economic behavior & organization, 29(2), 1996, pp. 191-209
Citations number
16
Categorie Soggetti
Economics
Journal title
ISSN journal
01672681
Volume
29
Issue
2
Year of publication
1996
Pages
191 - 209
Database
ISI
SICI code
0167-2681(1996)29:2<191:MOEB-E>2.0.ZU;2-B
Abstract
In addition to more or less elaborate, explicitly rational procedures,
economic choices in reality are frequently made by trial and error, i
mitation, following an authority, habit, thoughtless impulse, and hunc
h, Presenting results from a number of experiments that explicitly inc
orporate decision cost, this paper explores the extent to which these
alternative decision making modes can lead to 'optimal' choices.