What Comes to Mind

Nicola Gennaioli and Andrei Shleifer

The Quarterly Journal of Economics, 2010, vol. 125, issue 4, 1399-1433

Abstract: We present a model of intuitive inference, called "local thinking," in which an agent combines data received from the external world with information retrieved from memory to evaluate a hypothesis. In this model, selected and limited recall of information follows a version of the representativeness heuristic. The model can account for some of the evidence on judgment biases, including conjunction and disjunction fallacies, but also for several anomalies related to demand for insurance.

Date: 2010
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Citations: View citations in EconPapers (151)

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Working Paper: What Comes to Mind (2010)
Working Paper: What Comes to Mind (2009)
Working Paper: What comes to mind (2009)
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The Quarterly Journal of Economics is currently edited by Robert J. Barro, Lawrence F. Katz, Nathan Nunn, Andrei Shleifer and Stefanie Stantcheva

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