Can anticipatory feelings explain anomalous choices of information sources?
In: Games & Economic Behavior, Jg. 56 (2006-07-01), Heft 1, S. 87-104
Online
academicJournal
Zugriff:
Abstract: The well-being of agents is often directly affected by their beliefs, in the form of anticipatory feelings such as anxiety and hopefulness. Economists have tried to model this effect by introducing beliefs as arguments in decision makers'' vNM utility function. One might expect that such a model would be capable of explaining anomalous attitudes to information that we observe in reality. We show that the model has several shortcomings in this regard, as long as Bayesian updating is retained. [Copyright &y& Elsevier]
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Can anticipatory feelings explain anomalous choices of information sources?
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Autor/in / Beteiligte Person: | Eliaz, Kfir ; Spiegler, Ran |
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Zeitschrift: | Games & Economic Behavior, Jg. 56 (2006-07-01), Heft 1, S. 87-104 |
Veröffentlichung: | 2006 |
Medientyp: | academicJournal |
ISSN: | 0899-8256 (print) |
DOI: | 10.1016/j.geb.2005.06.004 |
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