Many economic situations involve the timing of irreversible decisions. E.g. People decide when to sell a stock or stop searching for a better price. We analyze the behavior of a decision maker who evaluates his choice relative to the ex-post optimal choice in an optimal stopping task. We derive...

Many economic situations involve the timing of irreversible decisions. E.g. People decide when to sell a stock or stop searching for a better price. We analyze the behavior of a decision maker who evaluates his choice relative to the ex-post optimal choice in an optimal stopping task. We derive...

Many economic situations involve the timing of irreversible decisions. E.g. People decide when to sell a stock or stop searching for a better price. We analyze the behavior of a decision maker who evaluates his choice relative to the ex-post optimal choice in an optimal stopping task. We derive...

The literature on both theoretical and empirical dynamics requires agents to solve complex dynamic programs, which assumes implicitly that agents are fully rational and have the most accurate expectations given their information set. We claim that this assumption is easily testable provided that...

This article proposes an abstract machine, known by the acronym FM, for modeling behavior currently described by finite state machines (SMs) in conjunction with related notions such as state and event. Although the SM concept was born more than 50 years ago and is widely applied in hardware...

Purpose Interaction plays a significant role in robotics and it is considered in all levels of hardware and software control design. Several models have been introduced and developed for controlling robotic interaction. This study aims to address and analyze the state-of-the-art on robotic...