We consider weak preference orderings over a set An of n alternatives. An individual preference is of refinement ln if it first partitions An into l subsets of tied alternatives, and then ranks these subsets within a linear ordering. When l n, preferences are coarse. It is shown that, if the...

It is well-known that classical models of belief are not realistic representations of human doxastic capacity; equally, models of actions involving beliefs, such as decisions based on beliefs, or changes of beliefs, suffer from similar inaccuracies. In this paper, a general framework is...

This paper investigates the efficiency of household investment decisions in a unique dataset containing the disaggregated wealth and income of the entire population of Sweeden.

Dynamic decision-making without commitment is usually modelled as a game between the current and future selves of the decision maker. It has been observed that if the time-horizon is infinite, then such games may have multiple subgame-perfect equilibrium solutions. We provide a sufficient...

Entrepreneurship studies have attributed to over-confidence decisions to start a new venture. Many decision situations, through which over-confidence is measured, entail some degrees of uncertainty, (e.g., related to own skill or to competition). The aspect of uncertainty is largely neglected in...

Author's abstract. In a situation of decision under uncertainty, a decision maker wishes to choose according to the maxmin expected utility rule, and he can observe the preferences of a set of experts who all share his utility function and all use the maxmin EU rule. This paper considers rules...

Political activism positively affects firm innovation. Firms that support more politicians, politicians on Congressional committees with jurisdictional authority over the firms’ industries and politicians who join those committees innovate more. The authors employ instrumental variables...

One apparent reason for deferring a decision – abstaining from choosing, leaving the decision open to be taken by someone else, one’s later self, or nature – is for lack of sufficient confidence in the relevant beliefs. This paper develops an axiomatic theory of decision in situations...

Using data from a U.S. household survey, we examine the empirical relation between subjective life horizon (i.e., the self-reported expectation of remaining life span) and portfolio choice. We find that equity portfolio shares are higher for investors with longer horizons, ceteris paribus, in...

This communication is in concern with knowledge-management as a theorico-practical field. It focuses on both epistemological and ethical implications of knowledge conceptions on people engaged in such knowledge-management projects and on society.