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Swinkels, Jeroen M.; Samuelson, Larry - In: Theoretical Economics 1 (2006) 1, pp. 119-142

Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand <i>why</i> an evolutionary process might optimally lead to such seemingly dysfunctional features...

Persistent link: https://www.econbiz.de/10011599367

Information, evolution and utility

Swinkels, Jeroen M.; Samuelson, Larry - In: Theoretical Economics 1 (2006) 1, pp. 119-142

Persistent link: https://www.econbiz.de/10005212485

Subjective expected utility in games

Di Tillio, Alfredo - In: Theoretical Economics 3 (2008) 3, pp. 287-323

This paper extends Savage's subjective approach to probability and utility from decision problems under exogenous uncertainty to choice in strategic environments. Interactive uncertainty is modeled both explicitly, using hierarchies of preference relations, the analogue of beliefs hierarchies,...

Persistent link: https://www.econbiz.de/10011599405

Dynamic contracting with limited commitment and the ratchet effect

Gerardi, Dino; Maestri, Lucas Jóver - In: Theoretical Economics 15 (2020) 2, pp. 583-623

low, the firm offers a pooling contract and no information is ever revealed. In contrast, if this prior probability is …

Persistent link: https://www.econbiz.de/10013188991

Subjective expected utility in games

Di Tillio, Alfredo - In: Theoretical Economics 3 (2008) 3

Persistent link: https://www.econbiz.de/10005515725

Slow persuasion

Escudé, Matteo; Sinander, Ludvig - In: Theoretical Economics 18 (2023) 1, pp. 129-162

What are the value and form of optimal persuasion when information can be generated only slowly? We study this question … in a dynamic model in which a `sender' provides public information over time subject to a graduality constraint, and a … sender's equilibrium value function and information provision. We show that the graduality constraint inhibits information …

Persistent link: https://www.econbiz.de/10014536988

Information and targeted spending

Eguia, Jon X.; Nicolò, Antonio - In: Theoretical Economics 14 (2019) 2, pp. 373-402

We present an electoral theory on the public provision of local public goods to an imperfectly informed electorate. We show that electoral incentives lead to greater spending if the electorate is not well informed. A more informed electorate induces candidates to target funds only to specific...

Persistent link: https://www.econbiz.de/10012215297

Cold feet

Epstein, Larry G.; Kopylov, Igor - In: Theoretical Economics 2 (2007) 3, pp. 232-259

Individuals often lose confidence in their prospects as they approach the `moment of truth.' An axiomatic model of such individuals is provided. The model adapts and extends (by relaxing the Independence axiom) Gul and Pesendorfer's model of temptation and self-control to capture an individual...

Persistent link: https://www.econbiz.de/10011599389

Intertemporal substitution and recursive smooth ambiguity preferences

Miao, Jianjun; Hayashi, Takashi - In: Theoretical Economics 6 (2011) 3, pp. 423-472

In this paper, we establish an axiomatically founded generalized recursive smooth ambiguity model that allows for a separation among intertemporal substitution, risk aversion, and ambiguity aversion. We axiomatize this model using two approaches: the second-order act approach à la Klibanoff,...

Persistent link: https://www.econbiz.de/10011599451

Ashamed to be selfish

Dillenberger, David; Sadowski, Philipp - In: Theoretical Economics 7 (2012) 1, pp. 99-124

We study a decision maker (DM) who has preferences over choice problems, which are sets of payoff-allocations between herself and a passive recipient. An example of such a set is the collection of possible allocations in the classic dictator game. The choice of an allocation from the set is...

Persistent link: https://www.econbiz.de/10011599457

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