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| LEADER |
01477nam a2200253Ia 4500 |
| 001 |
10.1007-s11166-018-9293-3 |
| 008 |
220706s2018 CNT 000 0 und d |
| 020 |
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|a 08955646 (ISSN)
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| 245 |
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|a Boundedly rational expected utility theory
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| 260 |
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|b Springer New York LLC
|c 2018
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| 856 |
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|z View Fulltext in Publisher
|u https://doi.org/10.1007/s11166-018-9293-3
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| 520 |
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|a We build a satisficing model of choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her underlying set of EU preferences until the evidence favouring one option satisfies her desired level of confidence. Despite its EUT core, the model produces patterns of behaviour that violate standard EUT axioms, while at the same time capturing systematic relationships between choice probabilities, response times and confidence judgments, which are beyond the scope of theories that do not take deliberation into account. © 2018, The Author(s).
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|a Bounded rationality
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|a Confidence
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|a Deliberation
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| 650 |
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|a Expected utility
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| 650 |
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|a Probabilistic choice
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| 650 |
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|a Response times
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| 700 |
1 |
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|a Alaoui, L.
|e author
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|a Butler, D.
|e author
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|a Isoni, A.
|e author
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|a Loomes, G.
|e author
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|a Navarro-Martinez, D.
|e author
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| 773 |
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|t Journal of Risk and Uncertainty
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