Economic irrationality is optimal during noisy decision making
According to normative theories, reward-maximizing agents should have consistent preferences. Thus, when faced with alternatives A, B, and C, an individual preferring A to B and B to C should prefer A to C. However, it has been widely argued that humans can incur losses by violating this axiom of tr...
| Main Authors: | , , , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
National Academy of Sciences
2016
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