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On treating effort as a dynamically varying cost input

Published online by Cambridge University Press:  04 December 2013

Wilhelm Hofmann
Affiliation:
Booth School of Business, University of Chicago, Chicago, IL 60637. wilhelm.hofmann@chicagobooth.eduhttp://faculty.chicagobooth.edu/wilhelm.hofmann/hkotabe@chicagobooth.eduhttp://home.uchicago.edu/~hkotabe/
Hiroki Kotabe
Affiliation:
Booth School of Business, University of Chicago, Chicago, IL 60637. wilhelm.hofmann@chicagobooth.eduhttp://faculty.chicagobooth.edu/wilhelm.hofmann/hkotabe@chicagobooth.eduhttp://home.uchicago.edu/~hkotabe/

Abstract

Kurzban et al.'s framework may be extended in fruitful ways by treating effort also as a cost input that affects the utility computation of a given option (rather than only as the output of a utility comparison between options). The weight people assign to effort as a cost may vary dynamically as a function of situational and dispositional factors.

Type
Open Peer Commentary
Copyright
Copyright © Cambridge University Press 2013 

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