TY - UNPD A1 - Höffler, Felix T1 - When can it make sense to throw away payoffs? N2 - We investigate when destroying payoff can be beneficial in a learning process of a boundedly rational, risk averse agent. Destroying payoff reduces average returns but can - as a "self punishment" - accelerate learning. This smoothens payoffs and can thereby increase expected utility. T3 - WHU – Working Paper Series in Economics - WP 09/01 KW - Eingeschränkte Rationalität KW - Bounded rationality KW - Lernen KW - Learning KW - Kostensenkung KW - Sunk costs Y1 - 2017 UR - https://opus4.kobv.de/opus4-whu/frontdoor/index/index/docId/518 UR - https://nbn-resolving.org/urn:nbn:de:hbz:992-opus4-5184 PB - WHU - Otto Beisheim School of Management CY - Vallendar ER -