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

Petko Kusev; Paul van Schaik

doi:10.1017/S0140525X12003019

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

Petko Kusev
, Paul van Schaik

Research output: Contribution to journal › Article › peer-review

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.

Original language	English
Pages (from-to)	294-295
Journal	Advances in Polymer Science
Volume	36
Issue number	3
DOIs	https://doi.org/10.1017/S0140525X12003019
Publication status	Published - Jun 2013

Keywords

Psychology

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10.1017/S0140525X12003019

Kusev-P-25946Final published version, 1.98 MBLicence: Unspecified

http://dx.doi.org/10.1017/S0140525X12003019

Cite this

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AB - 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.

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UR - http://www.ncbi.nlm.nih.gov/pubmed/23673040

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

Abstract

Keywords

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