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Imperfect memory and choice under risk

Gottlieb, Daniel ORCID: 0000-0002-0555-6185 (2014) Imperfect memory and choice under risk. Games and Economic Behavior, 85. 127 - 158. ISSN 0899-8256

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Identification Number: 10.1016/j.geb.2013.11.013


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.

Item Type: Article
Official URL:
Additional Information: © 2013 Elsevier Inc.
Divisions: Management
Subjects: H Social Sciences > HB Economic Theory
B Philosophy. Psychology. Religion > BF Psychology
JEL classification: C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C70 - General
Date Deposited: 26 Oct 2019 12:06
Last Modified: 16 May 2024 02:53

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