The Cognitive Economy

The Probabilistic Turn in Psychology and Human Cognition

Petko Kusev, Paul van Schaik

Research output: Contribution to journalArticle

Abstract

According to the foundations of economic theory, agents have stable and coherent "global" preferences that guide their choices among alternatives. However, people are constrained by information-processing and memory limitations and hence have a propensity to avoid cognitive load. We propose that this in turn will encourage them to respond to "local" preferences and goals influenced by context and memory representations.
Original languageEnglish
Pages (from-to)294-295
Number of pages2
JournalBehavioral and Brain Sciences
Volume36
Issue number3
Early online date14 May 2013
DOIs
Publication statusPublished - Jun 2013
Externally publishedYes

Fingerprint

Cognition
Psychology
Automatic Data Processing
Economics

Cite this

@article{9885fc1cb87d404183b58c0587cac2cb,
title = "The Cognitive Economy: The Probabilistic Turn in Psychology and Human Cognition",
abstract = "According to the foundations of economic theory, agents have stable and coherent {"}global{"} preferences that guide their choices among alternatives. However, people are constrained by information-processing and memory limitations and hence have a propensity to avoid cognitive load. We propose that this in turn will encourage them to respond to {"}local{"} preferences and goals influenced by context and memory representations.",
keywords = "Cognition, Humans, Models, Probability Theory, Quantum Theory, Psychological",
author = "Petko Kusev and {van Schaik}, Paul",
year = "2013",
month = "6",
doi = "10.1017/S0140525X12003019",
language = "English",
volume = "36",
pages = "294--295",
journal = "Behavioral and Brain Sciences",
issn = "0140-525X",
publisher = "Cambridge University Press",
number = "3",

}

The Cognitive Economy : The Probabilistic Turn in Psychology and Human Cognition. / Kusev, Petko; van Schaik, Paul.

In: Behavioral and Brain Sciences, Vol. 36, No. 3, 06.2013, p. 294-295.

Research output: Contribution to journalArticle

TY - JOUR

T1 - The Cognitive Economy

T2 - The Probabilistic Turn in Psychology and Human Cognition

AU - Kusev, Petko

AU - van Schaik, Paul

PY - 2013/6

Y1 - 2013/6

N2 - According to the foundations of economic theory, agents have stable and coherent "global" preferences that guide their choices among alternatives. However, people are constrained by information-processing and memory limitations and hence have a propensity to avoid cognitive load. We propose that this in turn will encourage them to respond to "local" preferences and goals influenced by context and memory representations.

AB - According to the foundations of economic theory, agents have stable and coherent "global" preferences that guide their choices among alternatives. However, people are constrained by information-processing and memory limitations and hence have a propensity to avoid cognitive load. We propose that this in turn will encourage them to respond to "local" preferences and goals influenced by context and memory representations.

KW - Cognition

KW - Humans

KW - Models

KW - Probability Theory

KW - Quantum Theory

KW - Psychological

U2 - 10.1017/S0140525X12003019

DO - 10.1017/S0140525X12003019

M3 - Article

VL - 36

SP - 294

EP - 295

JO - Behavioral and Brain Sciences

JF - Behavioral and Brain Sciences

SN - 0140-525X

IS - 3

ER -