How to compensate people who provide relevant information to a decision-maker who faces uncertainty?This paper suggests some compensation rules.These are studied both in a cooperative and a noncooperative environment.

Income expectations play a central role in household decision making. In the life cycle model for example, consumption and savings decisions reflect expectations of future income. In empirical applications where direct information on expectations is not available, it is usually assumed that...

There are many pathways explaining the relationship between socioeconomic status and health; one possibility is that some normally unobservable characteristic causes people to invest both in their financial well-being and their health. Here we consider the possibility that the decision making...

AMS classifications: 90D12; 03E72;