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作者：Bennett, JA; Young, L
作者单位：University of Massachusetts System; University of Massachusetts Boston; Chinese University of Hong Kong
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作者：Hanson, GH; Spilimbergo, A
作者单位：University of Michigan System; University of Michigan; International Monetary Fund; National Bureau of Economic Research
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作者：[Anonymous]
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作者：Camerer, C; Lovallo, D
作者单位：California Institute of Technology; University of Pennsylvania
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作者：Antos, JR; Bilheimer, L
作者单位：Congressional Budget Office
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作者：Flowers, G
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作者：Peletier, BD; Dur, RAJ; Swank, OH
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Tinbergen Institute; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
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作者：Fair, RC
作者单位：Yale University
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作者：Lettau, M; Uhlig, H
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Tilburg University; Princeton University
摘要：This paper studies decision-making with rules of thumb in the context of dynamic decision problems and compares it to dynamic programming. A rule is a fixed mapping from a subset of states into actions. Rules are compared by averaging over past experiences. This can lead to favoring rules which are only applicable in good states. Correcting this good state bias requires solving the dynamic program. We provide a general framework and characterize the asymptotic properties, We apply it to provid...
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作者：Cutler, DM; Sheiner, L
作者单位：Harvard University; Federal Reserve System - USA
