{"id":"https://openalex.org/W2996792543","doi":null,"title":"Economic Rationality: Investigating the Links between Uncertainty, Complexity, and Sophistication","display_name":"Economic Rationality: Investigating the Links between Uncertainty, Complexity, and Sophistication","publication_year":2019,"publication_date":"2019-01-01","ids":{"openalex":"https://openalex.org/W2996792543","mag":"2996792543"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:igi:igierp:653","doi":null,"is_oa":false,"landing_page_url":"https://repec.unibocconi.it/igier/igi/wp/2019/653.pdf","pdf_url":"https://repec.unibocconi.it/igier/igi/wp/2019/653.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://econpapers.repec.org/RePEc:igi:igierp:653","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5020086676","display_name":"Ilke Aydogan","orcid":"https://orcid.org/0000-0001-6087-2204","observed_orcids":["https://orcid.org/0000-0001-6087-2204"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ilke Aydogan","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-6087-2204","affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5085485520","display_name":"Lo\u00efc Berger","orcid":"https://orcid.org/0000-0002-0696-9387","observed_orcids":["https://orcid.org/0000-0002-0696-9387"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Lo\u00efc Berger","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-0696-9387","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5064051283","display_name":"Valentina Bosetti","orcid":"https://orcid.org/0000-0003-4970-0027","observed_orcids":["https://orcid.org/0000-0003-4970-0027"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Valentina Bosetti","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-4970-0027","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":3,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.005200000014156103,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11573","display_name":"Risk Perception and Management","score":0.0,"subfield":{"id":"https://openalex.org/subfields/3312","display_name":"Sociology and Political Science"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/ambiguity-aversion","display_name":"ambiguity aversion","score":0.9890000224113464},{"id":"https://openalex.org/keywords/compound-lotteries","display_name":"compound lotteries","score":0.7870000004768372},{"id":"https://openalex.org/keywords/model-uncertainty","display_name":"model uncertainty","score":0.6489999890327454},{"id":"https://openalex.org/keywords/model-misspecification","display_name":"model misspecification","score":0.9629999995231628},{"id":"https://openalex.org/keywords/non-expected-utility","display_name":"non-expected utility","score":0.9399999976158142},{"id":"https://openalex.org/keywords/decision-making-under-ambiguity","display_name":"decision making under ambiguity","score":0.796999990940094}],"concepts":[{"id":"https://openalex.org/C168725872","wikidata":"https://www.wikidata.org/wiki/Q991663","display_name":"Sophistication","level":2,"score":0.9105225205421448},{"id":"https://openalex.org/C201717286","wikidata":"https://www.wikidata.org/wiki/Q938185","display_name":"Rationality","level":2,"score":0.8943909406661987},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.48570379614830017},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3508002758026123},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3323650360107422},{"id":"https://openalex.org/C134560507","wikidata":"https://www.wikidata.org/wiki/Q753291","display_name":"Environmental economics","level":1,"score":0.3294563889503479},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.2201107144355774},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.1730077564716339},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.10223245620727539},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:igi:igierp:653","doi":null,"is_oa":false,"landing_page_url":"https://repec.unibocconi.it/igier/igi/wp/2019/653.pdf","pdf_url":"https://repec.unibocconi.it/igier/igi/wp/2019/653.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:2996792543","doi":null,"is_oa":true,"landing_page_url":"https://econpapers.repec.org/RePEc:igi:igierp:653","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":{"id":"mag:2996792543","doi":null,"is_oa":true,"landing_page_url":"https://econpapers.repec.org/RePEc:igi:igierp:653","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W4385409857","https://openalex.org/W3124748521","https://openalex.org/W3124789145","https://openalex.org/W3124819448","https://openalex.org/W4399310273","https://openalex.org/W2296465845","https://openalex.org/W4409157879","https://openalex.org/W1502328478","https://openalex.org/W2724741397","https://openalex.org/W1581076241"],"abstract_inverted_index":{"We":[0,27,57],"report":[1],"on":[2],"a":[3,10,35,45,119],"laboratory":[4],"experiment":[5],"measuring":[6],"the":[7,49],"preferences":[8,31],"of":[9,13,19,25,34,39,48,68,148],"unique":[11],"pool":[12],"risk":[14,54,85,106,116],"professionals":[15],"over":[16],"various":[17],"sources":[18],"uncertainty":[20],"that":[21,59,131],"entail":[22],"different":[23],"degrees":[24],"complexity.":[26,98],"then":[28],"compare":[29],"these":[30],"with":[32],"those":[33],"control":[36],"group":[37],"composed":[38],"social":[40],"science":[41],"students":[42],"to":[43,65,113,139],"obtain":[44],"deeper":[46],"understanding":[47],"mechanisms":[50],"driving":[51],"behaviors":[52],"under":[53,134,142],"and":[55,73,83,90],"ambiguity.":[56],"find":[58],"(1)":[60],"ambiguity":[61,82,126,135],"aversion":[62],"is":[63,91],"robust":[64],"subjects\u2019":[66],"degree":[67],"sophistication":[69],"in":[70],"probabilistic":[71],"reasoning":[72],"background.":[74],"(2)":[75],"An":[76],"association":[77,101],"exists":[78],"between":[79],"attitudes":[80,96],"toward":[81,97],"compound":[84,115,149],"for":[86,105,125],"students/less":[87],"sophisticated":[88,108],"subjects,":[89],"mainly":[92],"explained":[93],"by":[94],"their":[95],"Such":[99],"an":[100],"does":[102],"not":[103,122],"exist":[104],"professionals/more":[107],"subjects.":[109],"(3)":[110],"The":[111],"failure":[112],"reduce":[114],"emerges":[117],"as":[118],"sufficent,":[120],"but":[121],"necessary,":[123],"condition":[124],"non-neutrality.":[127],"These":[128],"findings":[129],"suggest":[130],"decision":[132,140],"making":[133,141],"cannot":[136],"be":[137],"reduced":[138],"risk.":[143],"Keywords:":[144],"Ambiguity":[145],"aversion,":[146],"reduction":[147],"lotteries,":[150],"non-expected":[151],"utility,":[152],"model":[153,155],"uncertainty,":[154],"misspecification":[156],"JEL":[157],"Codes:":[158],"D81":[159]},"counts_by_year":[{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":2}],"updated_date":"2026-11-01T11:40:01.658920","created_date":"2020-01-10T00:00:00"}
