Finally, the ultimate goal of the laboratory honing of simple models is to explain behavior in the economy. Models of iterated thinking could prove useful in thinking about asset markets, speculation and betting, contract structure, and oth…Capra, C. Mónica, “Noisy Expectation Formation in One-shot Games,” PhD. thesis, 1999.
Chen, Yuxin, Ganesh Iyer, and Amit Pazgal, “Limited Memory and Market Competition,” Working Paper, University of California, Berkeley, 2003.
Chong, Kuan…
Drazen Prelec
economist · 2 mentions across 1 reading
In this course
Drazen Prelec is a behavioral economist known for work on decision-making, subjective probability, and how people form expectations in uncertain environments—research that challenges classical rational actor models. His work appears in these readings primarily as foundational to understanding iterated thinking and how cognitive limitations shape behavior in markets and games, providing theoretical scaffolding for models that account for the gap between idealized economic agents and actual human decision-makers. The citations position his insights as essential for explaining phenomena like speculation and asset bubbles where unrealistic expectations drive collective outcomes.
Mentioned in 1 reading
Appears alongside
People mentioned in the same passages — sorted by co-occurrence weight.
George Loewenstein 2Ariel Rubinstein 1Chong 1Colin Camerer 1Costas-Gomes 1Crawford 1Ho 1Albert Satorra 1Antoni Bosch-Domenech 1Chris Proulx 1Colin F. Camerer 1Daniel Lovallo 1David Porter 1H. C. Kunreuther 1Hongbin Cai 1Jeffrey Banks 1Joe Swierzbinski 1Jose G. Montalvo 1Joseph Wang 1Juin-Kuan Chong 1Kenneth Binmore 1Robert Bloomfield 1Rosemarie Nagel 1S. J. Hoch 1Teck-Hua Ho 1