Cost-Benefit Analysis in Reasoning

• 成果类型: Article; Early Access
• 署名作者: Alaoui, Larbi; Penta, Antonio
• 署名单位: Pompeu Fabra University; Barcelona School of Economics; Pompeu Fabra University; ICREA
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/718378
• 发表日期: 2022
• 关键词: guessing games; performance; MODEL; incentives; pressure; choking; price

摘要

An individual's decision to reason about a problem may involve a trade-off between cognitive costs and a notion of value. This paper analyzes the primitive properties that must hold for the decision to stop thinking to be represented by a cost-benefit analysis. We then provide additional properties that give more structure to the value of reasoning function. We show how our model applies to a variety of settings, including contexts involving R&D applications, response time, and strategic reasoning. Our model can also be used to understand patterns of behavior for which the cost-benefit approach does not seem to hold.