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On treating effort as a dynamically varying cost input
Wilhelm Hofmann1, Hiroki Kotabe
1Booth School of Business, University of Chicago, Chicago, IL 60637. wilhelm.hofmann@chicagobooth.edu http://faculty.chicagobooth.edu/wilhelm.hofmann/ hkotabe@chicagobooth.edu http://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.
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