Economics BEAT Seminar - Aleksei Chernulich (Durham University)
Tuesday, 06 October 2026 at 13:30
Irrational Attention (with John Wooders)
Event details
We demonstrate that irrational attention – spending time and attention on solving a problem beyond the deadline, even when missing the deadline leads to the worst outcome – can be generated by a satisficing model of choice with a rigid satisficing level. People try to reach a satisficing level, but when it takes longer than the available time, they risk missing the deadline instead of lowering that level. We analyse millions of chess games with time control. Players regularly lose on time in positions that the engine evaluates as equal or even favourable. The pattern occurs across skill levels, in games with increments, in games with similar time left on the clock, and in tournament play.
Organiser
University of 51³Ô¹ÏºÚÁÏ Business School - Economics
Location
XFi Conference Room 2