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Updating preferences with multiple priors
Klibanoff, Peter; Hanany, Eran - In: Theoretical Economics 2 (2007) 3, pp. 261-298
. These rules apply to the preferences with multiple priors of Gilboa and Schmeidler (1989), and are the first, for any model … of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg … set of priors, where the specific subset depends on the preferences, the conditioning event, and the choice problem (i …
Persistent link: https://www.econbiz.de/10011599390
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Indifference, indecisiveness, experimentation and stochastic choice
Ok, Efe A.; Tserenjigmid, Gerelt - In: Theoretical Economics 17 (2022) 2, pp. 651-686
Among the reasons behind the choice behavior of an individual taking a stochastic form are her potential indifference or indecisiveness between certain alternatives, and/or her willingness to experiment in the sense of occasionally deviating from choosing a best alternative in order to give a...
Persistent link: https://www.econbiz.de/10014536935
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Evolution, heritable risk and skewness loving
Heller, Yuval; Robson, Arthur John - In: Theoretical Economics 16 (2021) 2, pp. 403-424
Our understanding of risk preferences can be sharpened by considering their evolutionary basis. The existing literature …
Persistent link: https://www.econbiz.de/10013189056
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Updating preferences with multiple priors
Klibanoff, Peter; Hanany, Eran - In: Theoretical Economics 2 (2007) 3
. These rules apply to the preferences with multiple priors of Gilboa and Schmeidler (1989), and are the first, for any model … of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg … set of priors, where the specific subset depends on the preferences, the conditioning event, and the choice problem (i …
Persistent link: https://www.econbiz.de/10005812751
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Mislearning from censored data: The gambler's fallacy and other correlational mistakes in optimal-stopping problems
He, Kevin - In: Theoretical Economics 17 (2022) 3, pp. 1269-1312
I study endogenous learning dynamics for people who misperceive intertemporal correlations in random sequences. Biased agents face an optimal-stopping problem. They are uncertain about the underlying distribution and learn its parameters from predecessors. Agents stop when early draws are "good...
Persistent link: https://www.econbiz.de/10014536919
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Which networks permit stable allocations? A theory of network-based comparisons
Cheng, Chen; Xing, Yiqing - In: Theoretical Economics 17 (2022) 4, pp. 1473-1499
networks holds not only for our baseline ranking preference but also for a range of preferences under which the sets of stable …
Persistent link: https://www.econbiz.de/10014536951
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Efficiency with endogenous population growth. Do children have too many rights?
Pérez-Nievas, Mikel - In: Theoretical Economics 18 (2023) 4, pp. 1375-1406
Fertility rates are declining in many countries. But are fertility rates inefficiently low? This paper addresses this question by exploring the efficiency properties of equilibria in an overlapping generations setting with endogenous fertility and dynastic parental altruism, using a particular...
Persistent link: https://www.econbiz.de/10014537047
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Efficiency and endogenous fertility
Pérez-Nievas, Mikel; Conde-Ruiz, José Ignacio; … - In: Theoretical Economics 14 (2019) 2, pp. 475-512
This paper explores the properties of the notions of A-efficiency and P-efficiency, proposed by Golosov, Jones and Tertilt (Econometrica, 2007), to evaluate allocations in a general overlapping generations setting in which fertility choices are endogenously selected from a continuum and any two...
Persistent link: https://www.econbiz.de/10012215288
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A theory of personal budgeting
Galperti, Simone - In: Theoretical Economics 14 (2019) 1, pp. 173-210
Prominent research argues that consumers often use personal budgets to manage self-control problems. This paper analyzes the link between budgeting and self-control problems in consumption-saving decisions. It shows that the use of good-specific budgets depends on the combination of a demand for...
Persistent link: https://www.econbiz.de/10012215309
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Malthusian stagnation is efficient
Córdoba Muñoz, Juan C.; Liu, Xiying - In: Theoretical Economics 17 (2022) 1, pp. 415-460
rational and altruistic toward their descendants. Our model allows for rich heterogeneity of abilities, preferences for …
Persistent link: https://www.econbiz.de/10013189017