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.
|Number of pages||2|
|Journal||Behavioral and Brain Sciences|
|Early online date||14 May 2013|
|Publication status||Published - Jun 2013|