The Cognitive Economy: The Probabilistic Turn in Psychology and Human Cognition

Petko Kusev; Paul van Schaik

doi:10.1017/S0140525X12003019

The Cognitive Economy: The Probabilistic Turn in Psychology and Human Cognition

Petko Kusev, Paul van Schaik

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

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
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	https://doi.org/10.1017/S0140525X12003019
Publication status	Published - Jun 2013
Externally published	Yes

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Cite this

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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.

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KW - Models

KW - Probability Theory

KW - Quantum Theory

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The Cognitive Economy: The Probabilistic Turn in Psychology and Human Cognition

Abstract

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