Behavioral Theory of Information Processing

Student: Slav Maxim

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2019

In the presented paper I make the first attempt to formalize hypothesis testing under cognitive biases, most importantly, selective evidence discrimination, selective exposure, and closure postponement. I do it via adopting drift-diffusion model to the problem, reconstructing the case when two hypotheses are mutually exclusive and compete. The model is then examined through Monte-Carlo simulation. Even though it is early to draw conclusions from the simulations, the model is significant since for the first time the field previously dominated with empirical work finds a model.

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