By Force of Habit: Self-Trapping in a Dynamical Utility Landscape

💡 Research Summary

The paper introduces a stylized decision‑making model that augments the classic utility‑maximization framework with a memory‑dependent reinforcement of utilities. Each of N discrete choices xi carries an intrinsic (objective) utility U0(xi). In addition, a history‑dependent term adds to the perceived (subjective) utility:
U(xi,t)=U0(xi)+∑_{t′≤t} φ(t−t′) δ