Random walkers with extreme value memory: modelling the peak-end rule
Motivated by the psychological literature on the ‘peak-end rule’ for remembered experience, we perform an analysis within a random walk framework of a discrete choice model where agents’ future choices depend on the peak memory of their past experiences. In particular, we use this approach to invest...
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| Format: | Article |
| Language: | English |
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IOP Publishing
2015-01-01
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| Series: | New Journal of Physics |
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| Online Access: | https://doi.org/10.1088/1367-2630/17/5/053049 |