We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst, and hence should be identified from observed choice data. An information structure is objectively describable if signals correspond to events of the objective...

We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We derive two utility representations of preferences over menus of acts that capture the individual's uncertainty about his future beliefs. The most general...

We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of preferences over menus of acts. The most general...

Using an approach based on evolution and adaptation, we provide foundations for a model of choice under uncertainty based on adaptive preferences, and we show that updating of those preferences in response to new information will respect dynamic consistency even at the cost of violating...

We establish that in the Prisoners' Dilemma, the model of Daley and Sadowski (2014) is logically distinct from three models that employ well-known forms of other regarding preferences: altruism (Ledyard, 1995; Levine, 1998), inequity aversion (Fehr and Schmidt, 1999), and reciprocity (Rabin,...

We provide axiomatic foundations for a simple model of play in prisoners' dilemma games. The model accommodates cooperation and suggests that players behave as if their expectations about their opponents' behavior vary with their own choice. We refer to this nonstandard updating as magical...

We study a decision maker (DM) who has preferences over choice problems, which are sets of payoff-allocations between herself and a passive recipient. An example of such a set is the collection of possible allocations in the classic dictator game. The choice of an allocation from the set is...