consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and …

decisions. In this challenge, they confront two questions: what decision theory to follow and how to implement it in AI systems … theory - Expected Utility Theory (EUT) - can help AI systems with utility functions to deal with the problem of instrumental …. This paper provides answers to these questions and makes three contributions. The first is to discuss how economic decision …

incorporating (the level of) absolute wealth in the individual's utility function. …

present a model which incorporates elements from the theory of information cascades with the standard model of tax evasion and … analyze the connection between the decision of a potential tax evader, the number of tax evaders and the number caught in … previous periods. General conditions exist under which any expected utility maximizing tax evaders will decide to emulate other …

Bayesian Updating is the dominant theory of learning in economics. The theory is silent about how individuals react to …

's common restrictions on the curvature of the decision-makers utility function can dramatically bias the altruism parameter. We … aversion or diminishing marginal utility, i.e., men versus women, giving motivated by pure versus warm glow motives, and …

ignoring the household as unit of decision-making has relevant empirical consequences. In estimation, the individual search … individual search specification implies gender differentials in lifetime utility inequality 74% larger. The results of our policy … experiments emphasize the importance of looking at lifetime utility inequality measures as opposed to simply cross-sectional wage …

. -- discrete choice ; random utility ; logit model ; consideration sets ; bounded rationality ; revealed preferences …