Satisficing in financial decision making — a theoretical and experimental approach to bounded rationality
Journal of Mathematical Psychology, pp. 26-33, 2009.
risk attituderational choiceaspirationsbounded rationalityinvestmentMore(1+)
We apply the theoretical construct of bounded rationality to an investment game, allowing participants to invest their monetary endowment in riskless bonds and risky assets. In our experiment, we elicit aspiration levels from participants: one captures a subsistence threshold, the other a success threshold. Participants can be classified ...More
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