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...

The competitive equilibrium correspondence, which associates equilibrium prices of commodities and assets with allocations of endowments, identifies the preferences and beliefs of individuals under uncertainty; this is the case even if the asset market is incomplete.

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.

Voters' preferences depend on the available information. Following Case-Based Decision Theory, we assume that this information is processed additively. We prove that the collective preferences deduced from the individual ones through majority vote cannot be arbitrary, as soon as a winning quota...

This paper proposes, firstly, a versatile model of awareness and awareness change, and secondly, logics for awareness and awareness change developed using this model.

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...