The price of flexibility: towards a theory of thinking aversion

DOI10.1016/J.JET.2012.10.009MaRDI QIDQ2447052zbMATH OpenOpenAlexFDO

Authors Pietro Ortoleva

Publication date 23 April 2014

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jet.2012.10.009

zbMATH Keywords

bounded rationalitychoice overloadcostcost of thinkingpreference for flexibilitypreference over menus

Mathematics Subject Classification ID

Rationality and learning in game theory (91A26)

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Cites work

• A bounded-rationality approach to the study of noncooperative games
• A Cognitive Hierarchy Model of Games
• A Representation Theorem for "Preference for Flexibility"
• A unique costly contemplation representation
• Ambiguity made precise: A comparative foundation
• Anticipating Regret: Why Fewer Options May Be Better
• Bargaining and markets: Complexity and the competitive outcome
• Complexity and Competition
• Finite automata play a repeated extensive game
• Finite Rationality and Interpersonal Complexity in Repeated Games
• Hidden actions and preferences for timing of resolution of uncertainty
• Limited information capacity as a source of inertia
• Maximal elements of non-binary choice functions on compact sets
• Preference for Flexibility in a Savage Framework
• Representing Preferences with a Unique Subjective State Space
• Representing Preferences with a Unique Subjective State Space: A Corrigendum
• Standard State-Space Models Preclude Unawareness
• Subjective states: a more robust model
• Temptation and Self-Control
• Temptation-Driven Preferences
• The Structure of Nash Equilibrium in Repeated Games with Finite Automata

Cited in

(15)

• Prior knowledge and monotone decision problems
• On the aversion to incomplete preferences
• Shortlisting procedure with a limited capacity
• Stochastic choice over menus
• Preference for flexibility and dynamic consistency
• Thoughts matter: a theory of motivated preference
• Additive representation for preferences over menus in finite choice settings
• A unique costly contemplation representation
• A model of relative thinking
• Preference for flexibility: a continuous representation in an ordinal setup
• Paying for confidence: an experimental study of the demand for non-instrumental information
• Subjective complexity under uncertainty
• Stochastic choice with bounded processing capacity
• Justification within and between social contexts with the possibility of choice deferral
• Indecisiveness aversion and preference for commitment

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