acquire costly unobservable information about it before taking the decision. The problem has features of moral hazard and … hidden information since the acquisition of information and its content are unobservable to the principal. The optimal …

In an information cascade experiment participants are confronted with artificial predecessors predicting in line with … coinciding predictions of predecessors are observed, regardless of whether additional information is revealed by these … is not recognized. -- information cascade ; Bayes' Rule ; decision under risk and uncertainty ; experimental economics …

When two agents with private information use a mechanism to determine an outcome, what happens when they are free to … outcome in one mechanism while they play another mechanism and learn new information. A decision rule is posterior …

continue versus terminate should optimally be made when (A) proceeding to the next stage generates further information but at a … value of information problem, one that proves to be qualitatively different and notably more complex. Numerous factors enter …

Attention scarcity is a limitation on the ability to incorporate information into actions with state … uses information from the joint distribution to make better ex-post choices from menus, and attention scarcity is reflected … in a subjective cost of information. Our focus on ex-ante preferences allows us to identify anticipated attention …