title: The cognitive economy: the probabilistic turn in psychology and human cognition.
abstract: According to the foundations of economic theory, agents have stable and coherent "global" preferences that guide their choices among alternatives. However, people are constrained by information-processing and memory limitations and hence have a propensity to avoid cognitive load. We propose that this in turn will encourage them to respond to "local" preferences and goals influenced by context and memory representations.
authors.affiliation: Department of Psychology, Kingston University London, London KT1 2EE, United Kingdom. p.kusev@kingston.ac.uk
authors.forename: Petko
authors.initials: P
authors.lastname: Kusev
authors.forename: Paul
authors.initials: P
authors.lastname: van Schaik
mesh_terms: D003071:Cognition; D006801:Humans; D008960:Models, Psychological; D011338:Probability Theory; D011789:Quantum Theory