Cited 1 times since 2013 (0.1 per year) source: EuropePMC The Behavioral and brain sciences, Volume 36, Issue 3, 1 1 2013, Pages 294-295 The cognitive economy: the probabilistic turn in psychology and human cognition. Kusev P, van Schaik P
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.
