Back to Search
Start Over
Computationally Tractable Choice.
- Source :
- EC: Economics & Computation; 2022, p28-28, 1p
- Publication Year :
- 2022
-
Abstract
- I incorporate computational constraints into decision theory in order to capture how cognitive limitations affect behavior. I impose an axiom of computational tractability that only rules out behaviors that are thought to be fundamentally hard. I use this framework to better understand common behavioral heuristics: if choices are tractable and consistent with the expected utility axioms, then they are observationally equivalent to forms of choice bracketing. Then I show that a computationally-constrained decisionmaker can be objectively better off if she is willing to use heuristics that would not appear rational to an outside observer. The full paper is available at https://mkcamara.github.io/ctc.pdf. [ABSTRACT FROM AUTHOR]
- Subjects :
- DECISION theory
HEURISTIC
AXIOMS
COGNITIVE ability
EXPECTED utility
Subjects
Details
- Language :
- English
- Database :
- Complementary Index
- Journal :
- EC: Economics & Computation
- Publication Type :
- Conference
- Accession number :
- 174692202
- Full Text :
- https://doi.org/10.1145/3490486.3538256