On the Causes and Consequences of Deviations from Rational Behavior

@article{Zegners2020OnTC,
  title={On the Causes and Consequences of Deviations from Rational Behavior},
  author={Dainis Zegners and Uwe Sunde and Anthony Strittmatter},
  journal={CESifo: Behavioural Economics (Topic)},
  year={2020}
}
This paper presents novel evidence for the prevalence of deviations from rational behavior in human decision making - and for the corresponding causes and consequences. The analysis is based on move-by-move data from chess tournaments and an identification strategy that compares behavior of professional chess players to a rational behavioral benchmark that is constructed using modern chess engines. The evidence documents the existence of several distinct dimensions in which human players… 
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