Paper #1186

Títol:

What comes to mind

Autors:

Nicola Gennaioli i Andrei Shleifer

Data:

Febrer 2009

Resum:

We present a model of intuitive inference, called “local thinking,” in which an agent combines data received from the external world with information retrieved from memory to evaluate a hypothesis. In this model, selected and limited recall of information follows a version of the respresentativeness heuristic. The model can account for some of the evidence on judgment biases, including conjunction and disjunction fallacies, but also for several anomalies related to demand for insurance.

Paraules clau:

Local thinking, representativeness, stereotypes, insurance.

Àrea de Recerca:

Macroeconomia i Economia Internacional

Publicat a:

Quarterly Journal of Economics, 125 (4), 1399-1433, 2010

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