BASE RATE NEGLECT FOR THE WEALTH OF INTERACTING PEOPLE

DOI10.1142/S0219525910002761MaRDI QIDQ3063615zbMATH OpenFDO

Authors Diemo Urbig

Publication date 15 December 2010

Published in Advances in Complex Systems (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1142/S0219525910002761

zbMATH Keywords

base rate neglectcognitive biasesecological rationalityinformation cascadessocial learning

Mathematics Subject Classification ID

Rationality and learning in game theory (91A26) Group preferences (91B10) Welfare economics (91B15)

Recommendations

• Role of selective interaction in wealth distribution.
• Agent based models for wealth distribution with preference in interaction
• Social Discounting and Intergenerational Pareto
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• THE WEALTH DISTRIBUTION MODEL WITH THE KICKBACK RATE
• Economic interactions and the distribution of wealth
• Aggregate social discount rate derived from individual discount rates
• Social discounting and the long rate of interest
• Derivation of wealth distributions from biased exchange of money

Cites work

• Psychology implies paternalism? Bounded rationality may reduce the rationale to regulate risk-taking

Cited in

(1)

• The use of base rate information as a function of experienced consistency

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