Skip to main content

Finite Memory and Dynamic Decision Problems

Project description

Understanding finite memory’s implications in economic decisions

Memory limitations are instrumental in individuals’ economic decisions. However, although memory limitations in the form of finite memory naturally arise in many aspects of economic life, formal economic models that incorporate the finite memory restriction are limited. The EU-funded Finite Memory project will explore the implications of finite memory for dynamic decision problems in choice theoretical and strategic economic contexts. These allow the market to obtain better predictions of consumers’ choices, unravel the observed equilibrium behaviour, and regulate markets to maximise social welfare. In addition, this understanding could provide new explanations for observed economic phenomena such as limited attention and price stickiness.

Coordinator

BILKENT UNIVERSITESI VAKIF
Net EU contribution
€ 237 943,68
Address
Eskisehir Yolu 8 Km
06800 Bilkent Ankara
Türkiye

See on map

Region
Batı Anadolu Ankara Ankara
Activity type
Higher or Secondary Education Establishments
Other funding
€ 0,00

Partners (1)

Partner

Partner organisations contribute to the implementation of the action, but do not sign the Grant Agreement.

TRUSTEES OF PRINCETON UNIVERSITY
United States
Net EU contribution
€ 0,00
Address
Nassau Hall 1
08544-2001 Princeton, Nj

See on map

Activity type
Higher or Secondary Education Establishments
Other funding
€ 165 265,92