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average time allocation. Thus, information about the order of activities is lost. Therefore, it is impossible to describe the …
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In the following paper the author applies concepts of information economics (hidden characteristics and signaling) to …
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We propose a model of instrumental belief choice under loss aversion. When new information arrives, an agent is … biases generate prior-dependent information preferences, such that agents may avoid information when being unconfident but … are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …
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To nudge is to design choice contexts in order to improve choice outcomes. Richard Thaler and Cass Sunstein emphatically endorse nudging but reject more restrictive means. In contrast, I argue that the behavioral psychology that motivates nudging also motivates what may be called jolting—i.e....
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