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Overcoming Bias Commenter's avatar

I think what it means is that regardless of the emphasis/priority that we place on any one issue/factor/parameter, the person is in fact more oriented towards results/payoff as long as they are informed.

In other words, people will act on "impulse" and change their their initial beliefs on the fly, when given additional information, in order to maximise the chances of a desirable outcome.

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Overcoming Bias Commenter's avatar

Come on, Nash equilibrium are not dead because of one paper. There is a huge competition in bounded rationality for the best theory to explain behaviour, this paper offers a nice contribution to the race but it does not end it. (btw Selten who is an author of this paper got a Nobel prize for his work in extending Nash equilibria).

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