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 language | English |
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Pages (from-to) | 294-295 |
Number of pages | 2 |
Journal | Behavioral and Brain Sciences |
Volume | 36 |
Issue number | 3 |
Early online date | 14 May 2013 |
DOIs | |
Publication status | Published - Jun 2013 |
Externally published | Yes |