Inductive reasoning and bounded rationality

Inductive reasoning and bounded rationality

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Article ID: iaor2000380
Country: United States
Volume: 84
Issue: 2
Start Page Number: 406
End Page Number: 411
Publication Date: May 1994
Journal: American Economic Review
Authors:
Abstract:

This paper proposes an approach to understanding the game theoretic and economic factors which affect rational (?) human behaviour in the presence of uncertainty. The key element of the paper is the discussion of group behaviour in terms of a group of inductive expectations and belief-models.

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