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 … are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …

by many theories of choice and implies that the decision-maker prefers receiving the best outcome for sure over all … treatments where decision-makers are asked to submit multiple decisions without knowing which one is relevant, many participants … decision. A large data set on (high-stake) university applications in Germany shows patterns that are consistent with a …

preferences. Among the behavioral patterns that allow for a clear-cut interpretation on the decision level, we find that roughly … almost half of our subjects. Among those, roughly 24%are rational expected utility maximizers, 24% make occasional mistakes …

Influential economic approaches as random utility models assume a monotonic relation between choice frequencies and …