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  1. The information inelasticity of habits: Kahneman’s bounded rationality or Simon’s procedural rationality?Elias L. Khalil - 2022 - Synthese 200 (4):1-40.
    Why would decision makers adopt heuristics, priors, or in short “habits” that prevent them from optimally using pertinent information—even when such information is freely-available? One answer, Herbert Simon’s “procedural rationality” regards the question invalid: DMs do not, and in fact cannot, process information in an optimal fashion. For Simon, habits are the primitives, where humans are ready to replace them only when they no longer sustain a pregiven “satisficing” goal. An alternative answer, Daniel Kahneman’s “mental economy” regards the question valid: (...)
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  • The Psychology Underlying Biased Forecasts of COVID-19 Cases and Deaths in the United States.Hersh Shefrin - 2020 - Frontiers in Psychology 11.
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