‘What is important is seldom urgent and what is urgent is seldom important’: a study of the strategic implications of the urgency effect in a competitive setting

نویسندگان

چکیده

Abstract The urgency effect refers to people’s tendency choose a relatively unimportant task (with unambiguously low payoff) over important high payoff), when the former is spuriously framed as urgent. In this paper I study simple model in which two payoff-maximising suppliers compete for population of heterogeneous decision-makers. Task offer tasks various importance, and can exert costly effort manipulate perceived offered tasks. Decision-makers are kinds: they either more less by disregarding frames (fully rational) or behave like fully rational decision-makers, except that subject (boundedly rational). unique symmetric equilibrium resulting game derive conditions under has detrimental effects on decision-makers’ welfare. Furthermore, examine implications several policies aimed at correcting failure, include educating boundedly decision-makers auditing use framing.

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ژورنال

عنوان ژورنال: Economic Theory Bulletin

سال: 2022

ISSN: ['2196-1085', '2196-1093']

DOI: https://doi.org/10.1007/s40505-022-00236-0