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Case-Based Belief Formation under Ambiguity
Eichberger, Jürgen; Guerdjikova, Ani - 2010
In this paper, we consider a decision-maker who tries to learn the distribution of outcomes from previously observed cases. For each observed database of cases the decision-maker predicts a set of priors expressing his beliefs about the underlying probability distribution. We impose a version of...
Persistent link: https://www.econbiz.de/10010270218
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Foundations of ambiguity models under symmetry: α-MEU and smooth ambiguity
Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon; … - 2021
The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the …
Persistent link: https://www.econbiz.de/10012670885
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Foundations of ambiguity models under symmetry : α-MEU and smooth ambiguity
Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon; … - 2021 - This Version: January 13, 2021
The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the …
Persistent link: https://www.econbiz.de/10012422419
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Beyond uncertainty aversion
Hill, Brian - 2019
Although much of the theoretical literature on ambiguity works under the assumption of uncertainty aversion …
Persistent link: https://www.econbiz.de/10012266826
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Foundations of ambiguity and economic modeling
Mukerji, Sujoy - Department of Economics, Oxford University - 2009
Are foundations of models of ambiguity-sensitive preferences too flawed to be usefully applied to economic models?  Al …-Najjar and Weinstein do not apply to quite a few of the ambiguity preference models of more recent vintage, and therefore to that … extent do not undermine the foundational aspects or applicability of ambiguity models in general.  Second, we argue the focus …
Persistent link: https://www.econbiz.de/10004999235
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Competition of politicians for wages and office
Gersbach, Hans - 2003
We examine a model in which two politicians compete for office and for wages. Their remunerations are either set by the public or are offered competitively by the candidates during campaigns. Our main finding shows that competitive wage offers by candidates lead to lower social welfare than...
Persistent link: https://www.econbiz.de/10011422108
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The Impact of Lobbying on the Allocation of Political Authority
Falconieri, Sonia - 2001
This paper studies the internal organizational design of politicalinstitutions in presence of lobbying. We consider a legislature ascomposed of two bodies: the floor and an informational committee. Thefloor has the (formal) power to choose the policy to be implemented.The policy outcome is ex...
Persistent link: https://www.econbiz.de/10010324782
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Information Overload in Multi-Stage Selection Procedures
Ficco, Stefano; Karamychev, Vladimir A. - 2004
The paper studies information processing imperfections in a fully rational decision-making network. It is shown that imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information overload. The paper analyses the mechanisms responsible...
Persistent link: https://www.econbiz.de/10010325568
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Determinants of the Community Mobility during the COVID-19 Epidemic: The Role of Government Regulations and Information
Mendolia, Silvia; Stavrunova, Olena; Yerokhin, Oleg - 2020
This paper studies the dynamics of human mobility during the initial stage of the COVID-19 pandemic in countries around the world. The main goal of the analysis is to empirically separate voluntary reductions in mobility driven by the information about the location-specific pandemic trends from...
Persistent link: https://www.econbiz.de/10012322577
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Robust group strategy-proofness
Kivinen, Steven; Tumennasan, Norovsambuu - In: Theoretical Economics 16 (2021) 4, pp. 1351-1389
Strategy-proofness (SP) is a sought-after property in social choice functions because it ensures that agents have no incentive to misrepresent their private information at both the interim and ex post stages. Group strategy-proofness (GSP), however, is a notion that is applied to the ex post...
Persistent link: https://www.econbiz.de/10013189078