Existing behavioral studies of inter-temporal choice suggest that both human and animal choosers are impulsive. One possible explanation for this is that they discount future gains in a hyperbolic or quasi-hyperbolic fasion (Laibson, 1997; Frederick, Loewenstein and O'Donoghue, 2002). This...

Research in psychology suggests that some individuals are more sensitive to positive than to negative information while others are more sensitive to negative rather than positive information. I take these cognitive positive-negative asymmetries in information processing to a Bayesian...

It is not unusual in real-life that one has to choose among finitely many alternatives when the merit of each alternative is not perfectly known. This may be the case when an individual chooses school, doctor or pension plan, or when a firm chooses between alternative R&D projects. Instead of...

We show how different kinds of belief operators derived from preferences can be defined in terms an accessibility relation of epistemic priority, and characterized by means of a vector of nested accessibility relations. The semantic structure is used to reconcile and compare certain non-standard...