We propose and axiomatically characterize a representation of ambiguity sensitive preferences. The distinguishing feature of our axiomatization is that we do not require preferences to be event-wise separable over any domain of acts. Even without any such separability restrictions, we are able...

We propose a foundation for expressive voting that is based on a novel theory of social preferences under risk. Under our proposal, expressive considerations in voting endogenously arise from the particular way in which risky social prospects are assessed. To motivate this connection, we relate...

We argue that when fiscal policy is endogenously determined, the incentives of redistributive politics associated with its formulation can endogenously add to the uncertainty and volatility that an economy faces. In particular, small shocks may get translated into large fluctuations. Our...

As is well-known, choices of a decision maker (DM) who attempts self-control in the face of temptation may exhibit menu effects and “non-standard” patterns. Existing models can accommodate some of these patterns but not others; e.g., they can explain self-control undermining menu effects,...

The majority of results in the literature on general equilibrium are not for an economy (i.e. given an endowment and preferences), but rather, for a set of economies (i.e. a set of endowments given preferences). Therefore, we argue that the most appropriate robustness result requires perturbing...