Sticky Models

Paul Grass, Philipp Schirmer () and Malin Siemers ()
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Philipp Schirmer: University of Bonn
Malin Siemers: University of Bonn

No 355, ECONtribute Discussion Papers Series from University of Bonn and University of Cologne, Germany

Abstract: People often form incomplete mental models, having to revise them as new relevant variables become observable. We show experimentally that models are ‘sticky’: revised models remain strongly influenced by earlier models formed using a subset of variables. Sticky models occur across three different data-generating processes and across heterogeneous reasoning types of subjects. Guided by a simple framework of dynamic model formation, we investigate cognitive effort allocation as a key mechanism: across three DGPs, we find that stickiness is driven by subjects who exert relatively less cognitive effort during the model revision relative to the initial model formation.

Keywords: Mental models; learning dynamics; attention; mental representation; bounded rationality (search for similar items in EconPapers)
JEL-codes: D83 D91 (search for similar items in EconPapers)
Pages: 90 pages
Date: 2025-02
New Economics Papers: this item is included in nep-cbe
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https://www.econtribute.de/RePEc/ajk/ajkdps/ECONtribute_355_2025.pdf Second version, 2026 (application/pdf)

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Working Paper: Sticky Models (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:ajk:ajkdps:355

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