Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103559
Authors: 
Cicognani, Simona
Mittone, Luigi
Year of Publication: 
2014
Citation: 
[Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 8 [Issue:] 2014-36 [Pages:] 1-31
Abstract: 
This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The authors experimentally investigate the role of imitation when participants face a task which is costly in cognitive terms. In order to disentangle different choice dynamics, they devise a laboratory experiment with a novel experimental task in which they model the choice of different alternatives through high or low cognitive costs and feedback information provided to subjects. Their results provide evidence for imitative behavior driven by under-confidence about own skills and by the beliefs regarding others' performance. They also find a temporal pattern in the distribution of choices, both in the high-cost and low-cost cognitive conditions, that may represent another cognitive shortcut.
Subjects: 
Belief
cognitive costs
decision making
laboratory experiments
JEL: 
C91
D80
D81
D83
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Article

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