Misperception and Cognition in Markets
We consider a market setting where a consumer holds either a naive or sophisticated perception of their preference over products. We introduce the concept of a cognitive equilibrium, in which the consumer can transition between the cognitive states of naiveté and sophistication depending on the degr...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-10-01
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| Series: | Games |
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| Online Access: | https://www.mdpi.com/2073-4336/13/6/71 |