| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w30002
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| 来源ID | Working Paper 30002
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| Complexity and Choice |
| Yuval Salant; Jorg L. Spenkuch
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| 发表日期 | 2022-05-02
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| 出版年 | 2022
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| 语种 | 英语
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| 摘要 | We develop a model of satisficing with evaluation errors that incorporates complexity at the level of individual alternatives. We test the model predictions in a novel data set with information on hundreds of millions of chess moves by experienced players. Consistent with the theory, complex optimal moves are chosen less frequently than simpler ones. Choice frequencies of suboptimal moves follow the opposite pattern. The former finding distinguishes satisficing from a large class of maximization-based models. We further document that skill and time moderate the adverse effect of complexity, and that they complement each other in doing so. Finally, we provide evidence that suboptimal behavior also hinges on the composition of the choice set but not its size. Our findings help to shed some of the first light on the importance of complexity outside of the laboratory. |
| 主题 | Microeconomics
; Behavioral Economics
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| URL | https://www.nber.org/papers/w30002
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587675
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推荐引用方式
GB/T 7714 |
Yuval Salant,Jorg L. Spenkuch. Complexity and Choice. 2022.
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文件名：
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w30002.pdf
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格式：
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Adobe PDF
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