IDEAS home Printed from https://ideas.repec.org/a/bpj/jeehcn/v14y2004i1n3.html
   My bibliography  Save this article

Sequential Perception and Bounded Rationality

Author

Listed:
  • Lévy-Garboua Louis

    (Université Paris I)

Abstract

Rational individuals who perceive information sequentially are confronted to cognitive dissonance and dynamic uncertainty in a way that sets a natural limit to the ex post efficiency of their choices. From the normative perspective which ignores this dynamic uncertainty, their rationality seems limited. Sequential perception is assumed in a model of Bayesian revision of the contingent preference in a repeated choice. This model predicts both the cognitive dissonance phenomenon studied by Festinger (1957) and the formation of stable habits. It also shows how an ordinary man can be rational with bounded informational and computational abilities and, for the same reasons, give a disproportionate weight to impressions without any normative value in his own choices and judgments. Sequential perception and cognitive consistency offer a credible alternative to the cognitive bias paradigm for predicting anomalies in choice and game behavior.Des individus logiques percevant l'information de manière séquentielle sont soumis à une dissonance cognitive et une incertitude dynamique qui limitent naturellement l'efficacité ex post de leurs choix. Du point de vue normatif, qui ignore cette incertitude dynamique, leur rationalité apparaît limitée. L'hypothèse de perception séquentielle est introduite dans un modèle de révision bayésienne de la préférence contingente lors d'un choix répété. Ce modèle prédit à la fois le phénomène de dissonance cognitive étudié par Festinger (1957) et la formation d'une habitude stable. Il montre aussi comment un homme ordinaire peut être rationnel sans disposer de capacités d'information et de calcul démesurées et, pour les mêmes raisons, subir l'influence disproportionnée d'impressions dénuées de valeur normative dans les choix ou les jugements qu'il porte. La perception séquentielle et la cohérence cognitive offrent une alternative crédible au paradigme des biais cognitifs pour expliquer tous les comportements humains qui réfutent la théorie normative des choix et des jeux.

Suggested Citation

  • Lévy-Garboua Louis, 2004. "Sequential Perception and Bounded Rationality," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 14(1), pages 1-17, March.
    • Handle: RePEc:bpj:jeehcn:v:14:y:2004:i:1:n:3
    DOI: 10.2202/1145-6396.1116
    as

    Download full text from publisher

    File URL: https://doi.org/10.2202/1145-6396.1116
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.2202/1145-6396.1116?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:jeehcn:v:14:y:2004:i:1:n:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.