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theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments …, subjected expected utility and maxmin expected utility in the presence of uncertainty, and exponentially discounted utility for …
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consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and …
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Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
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prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in … posteriors lead to larger utility than the prior. In choosing her belief, the agent optimally trades off these psychological …
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