Is it regret minimization or rational inattention

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It seems that bounded rationality models focus on explaining a particular psychological bias, in a very specific way. In particular, its seems that the state of the art consensus is that one size does not fit all. The prevalence of framing effects makes this issue very difficult, but is there any way to think of a general approach to modelling bounded rationality. Is it regret minimization, or random choice, or rational inattention?

Reference no: EM13838219

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