AGT: behavioural

According to Neoclassical economics...

• Models are valuable as long as their predictions are accrate

• People are rational

• Models are valuable as long as they are highly realistic

• People maximize utiliy

How do people tend to compare gain and loss?

• Gains are seen as more important

• Losses are seen as more important

• They are seen in equal terms

• Both are expected

What does satisficing mean?

• Optimizing actions to maximize utility

• Optimizing actions to minimize utility

• Choosing an acceptable option instead of searching for the optimal choice

• Searching for the optimal choice instead of choosing an acceptable option

What are the limitations that bounds our rationality?

• Information

• Independence from irrelevant alternatives

• Transitivity

• Cognitive limitations

What is a nudge?

• Making a big suggestion to change an agent's behaviour

• Making a small suggestion to change an agent's behaviour

• Making a small suggestion to maintain an agent's behaviour

• Making a big suggestion to change an agent's behaviour

Which of the following are considered when acting hyper-rationally?

• Personal preferences

• No preferences are considered

• Preferences of others

• Randomized preferences