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A Maximum Entropy Model of Bounded Rational Decision-Making with Prior Beliefs and Market Feedback
16 references·1 citing·44 second hop
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References

  • 1972Conditional logit analysis of qualitative choice behavior14,281 cited
  • 1979Biased assimilation and attitude polarization: The effects of prior theories on subsequently considered evidence.4,582 cited
  • 2003Implications of rational inattention3,869 cited
  • 1995Quantal Response Equilibria for Normal Form Games2,553 cited
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  • 1957Models of Man.1,328 cited
  • 2011Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model786 cited
  • 1998Quantal Response Equilibria for Extensive Form Games656 cited
  • 2000Statistical mechanics of money555 cited
  • 2009Colloquium : Statistical mechanics of money, wealth, and income518 cited
  • 2013Thermodynamics as a theory of decision-making with information-processing costs260 cited
  • 2018Rational Inattention, Optimal Consideration Sets, and Stochastic Choice246 cited
  • 2009Complex Evolutionary Systems in Behavioral Finance142 cited
  • 2018Theory of the Consumption Function105 cited
  • 2012Is Behavioral Economics Doomed?: The Ordinary versus the Extraordinary64 cited

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2019
Modeling other minds: Bayesian inference explains human choices in group decision-making
57 cited

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  • 2024The Physics of Preference: Unravelling Imprecision of Human Preferences through Magnetisation Dynamics14 cited