Narrow search
Showing 1 - 10 of 81
Cover Image
A Theory of Subjective Learning, Third Version
Dillenberger, David; Lleras, Juan Sebastian; Sadowski, … - Department of Economics, University of Pennsylvania - 2012
We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved … by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of … preferences over menus of acts. One representation uniquely identifies information as a probability measure over posteriors and …
Persistent link: https://www.econbiz.de/10010822917
Cover Image
A Theory of Subjective Learning, Second Version
Dillenberger, David; Lleras, Juan Sebastian; Sadowski, … - Department of Economics, University of Pennsylvania - 2012
We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved … by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of …. A more specialized representation uniquely identifies information as a partition of the state space. This result allows …
Persistent link: https://www.econbiz.de/10010822938
Cover Image
A Theory of Subjective Learning, Third Version
Dillenberger, David; Lleras, Juan Sebastian; Sadowski, … - 2013
We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved … by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of … preferences over menus of acts. One representation uniquely identifies information as a probability measure over posteriors and …
Persistent link: https://www.econbiz.de/10014151177
Cover Image
A Theory of Subjective Learning, Second Version
Dillenberger, David - 2013
We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved … by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of …. A more specialized representation uniquely identifies information as a partition of the state space. This result allows …
Persistent link: https://www.econbiz.de/10013084995
Cover Image
Subjective dynamic information constraints ; [1]
Dillenberger, David; Krishna, R. Vijay; Sadowski, Philipp - 2016
We axiomatize a new class of recursive dynamic models that capture subjective constraints on the amount of information … a decision maker can obtain, pay attention to, or absorb, via a Markov Decision Process for Information Choice (MIC). An … MIC is a subjective decision process that specifies what type of information about the payoff-relevant state is feasible …
Persistent link: https://www.econbiz.de/10011524248
Cover Image
An explicit representation for disappointment aversion and other betweenness preferences
Cerreia-Vioglio, Simone; Dillenberger, David; Ortoleva, … - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 4, pp. 1509-1546
One of the most well-known models of non-expected utility is Gul (1991)'s model of Disappointment Aversion. This model, however, is defined implicitly, as the solution to a functional equation; its explicit utility representation is unknown, which may limit its applicability. We show that an...
Persistent link: https://www.econbiz.de/10012415476
Cover Image
Subjective Information Choice Processes
Dillenberger, David; Krishna, Vijay; Sadowski, Philipp - 2020
information a decision maker can acquire, pay attention to, or absorb, via an Information Choice Process (icp). An icp specifies … the information that can be acquired about the payoff-relevant state in the current period, and how this choice affects … information constraint on the history of information choices and state realizations, we show that the constraints imposed by them …
Persistent link: https://www.econbiz.de/10014096031
Cover Image
Additive-Belief-Based Preferences
Dillenberger, David; Raymond, Collin - 2020
We introduce a new class of preferences — which we call additive-belief-based (ABB) —that captures a general and yet tractable approach to belief-based utility, and that encompasses many popular models in the behavioral literature. We show that the general class of ABB preferences and two...
Persistent link: https://www.econbiz.de/10014096033
Cover Image
Skewed Noise
Dillenberger, David; Segal, Uzi - Department of Economics, University of Pennsylvania - 2015
We study the attitude of decision makers to skewed noise. For a binary lottery that yields the better outcome with probability $p$, we identify noise around $p$, with a compound lottery that induces a distribution over the exact value of the probability and has an average value p. We propose and...
Persistent link: https://www.econbiz.de/10011204502
Cover Image
Ashamed to be Selfish
Sadowski, Philipp; Dillenberger, David - Duke University, Department of Economics - 2010
We study a decision maker (DM) who has preferences over sets of payoff-allocations between herself and a passive recipient, which represent second-stage choice problems. The recipient is only aware of second-stage choice of an allocation. Not choosing the normatively best allocation in the...
Persistent link: https://www.econbiz.de/10009148797