When agents are ascribed selfish motives, economic theory points to grave inefficiencies resulting from externalities. We study a restaurant setting...
This article described three heuristics that are employed in making judgements under uncertainty: (i) representativeness, which is usually employed when...
Mental accounting posits that people track their expenditures using cognitive categories or “mental accounts.” The authors propose that this cognitive...
Mental accounts are often characterized as self‐control devices that consumers employ to prevent excess spending and consumption. However, under certain...
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