Bounded Rationality and Directed Cognition

By Xavier Gabaix, David Laibson. 2005

114 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d110fccc297d8ba0ed84911bcc89dd5a82250143

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Citations in the corpus

SELECTIVE ATTENTION AND LEARNING (2014, methodology): “In this manner, my model shares similarities to recent models of costly information acquisition (Gabaix et al. 2006; Gabaix and Laibson 2005), which recognize cognitive limitations, but do not assume that agents optimize given those limitations.”
Speed, Accuracy, and the Optimal Timing of Choices (2018, background): “…of the signal and the processes {Bit} are independent.17 The signals and prior lie in a probability space (Ω,P, {Ft}t∈R+), where the information Ft that the agent observed up to time t is simply the paths {Zis}0≤s<t.We denote the agent’s posterior belief about θ given this information by µt.”
Limited Attention and the Allocation of Effort in Securities Trading (2008, background): “3 Gabaix and Laibson (2004) and Gabaix, Laibson, Moloche, and Weinberg (2003) develop a general cost-benefit model of endogenous attention allocation and provide experimental evidence in support of this directed cognition effect.”
Does the World Economy Swing National Elections (2009, unknown): “Another way of viewing the problem is that cognitive resources are scarce (Gabaix and Laibson, 2005; Gabaix et al., 2006), and individuals therefore choose to economize on decision time by using rules of thumb to decide how to vote.”
Investor Attention: Overconfidence and Category Learning (2006, unknown): “Gabaix and Laibson (2003) analyze a model of directed attention of economic agents who allocate thinking time to choose a consumption good from several alternatives, and Gabaix et al. (2003) provide some further experimental evidence.”
Limited Investor Attention and Stock Market Misreactions to Accounting Information (2011, unknown): “Other recent papers model the allocation of attentional resources (Gabaix and Laibson 2005; Peng 2005; Hirshleifer, Lim, and Teoh 2008), how limited learning capacity affects asset price comovement (Peng and Xiong 2006) and the speed of price adjustment to fundamental shocks (Peng 2005; Peng and…”
Costly Information Acquisition: Experimental Analysis of a Boundedly Rational Model (2006, methodology): “The directed cognition model uses approximate option-value calculations to direct cognition to mental activities with high shadow values (Gabaix and Laibson, 2005).”