The cognitive economy: the probabilistic turn in psychology and human cognition

Kusev, Petko and van Schaik, Paul (2013) The cognitive economy: the probabilistic turn in psychology and human cognition. The Behavioral and brain sciences, 36(3), pp. 294-295. ISSN (print) 0140-525X

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Abstract

According to the foundations of economic theory, agents have stable and coherent "global" preferences that guide their choices among alternatives. However, people are constrained by information-processing and memory limitations and hence have a propensity to avoid cognitive load. We propose that this in turn will encourage them to respond to "local" preferences and goals influenced by context and memory representations.

Item Type: Article
Research Area: Psychology
Faculty, School or Research Centre: Faculty of Arts and Social Sciences (until 2017) > School of Psychology, Criminology and Sociology (from November 2012)
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Depositing User: Automatic Import Agent
Date Deposited: 10 Jun 2013 13:51
Last Modified: 01 Feb 2017 03:30
DOI: https://doi.org/10.1017/S0140525X12003019
URI: http://eprints.kingston.ac.uk/id/eprint/25762

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