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A Theory of Subjective Learning, Second Version

Dillenberger, David - 2013

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...

Persistent link: https://www.econbiz.de/10013084995

A Theory of Subjective Learning

Dillenberger, David - 2012

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...

Persistent link: https://www.econbiz.de/10013101281

Toward a Behavioral Theory of Real Options : Noisy Signals, Bias, and Learning

Posen, Hart E. - 2020

We develop a behavioral theory of real options that relaxes the informational and behavioral assumptions underlying … applications of financial options theory to real assets. To do so, we augment real option theory's focus on uncertain future asset … values (prospective uncertainty) with feedback learning theory that considers uncertain current asset values (contemporaneous …

Persistent link: https://www.econbiz.de/10012856401

Subjective Learning, Second Version

Dillenberger, David; Sadowski, Philipp - 2012

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

Persistent link: https://www.econbiz.de/10014171998

Models of Subjective Learning

Dillenberger, David; Sadowski, Philipp - 2011

We study a decision maker who faces a dynamic decision problem in which the process of information arrival is subjective. By studying preferences over menus of acts, we derive a sequence of utility representations that captures the decision maker’s uncertainty about the beliefs he will hold...

Persistent link: https://www.econbiz.de/10014175006

Learning from unrealized versus realized prices

Ngangoue, Kathleen; Weizsäcker, Georg - 2015

that is roughly consistent with the benchmark theory. …

Persistent link: https://www.econbiz.de/10011280005

A simple model of self-assessments

Dominguez-Martinez, Silvia; Swank, Otto H. - 2006

We develop a simple model that describes individuals’ self-assessments oftheir abilities. We assume that individuals learn about their abilities from appraisalsof others and experience. Our model predicts that if communicationis imperfect, then (i) appraisals of others tend to be too positive,...

Persistent link: https://www.econbiz.de/10011348342

Irrational exuberance and herding in financial markets

Boortz, Christopher - 2016

In the context of a two-state, two-trader financial market herd model introduced by Avery and Zemsky (1998) we investigate how informational ambiguity in conjunction with waves of optimism and pessimism affect investor behavior, social learning and price dynamics. Without ambiguity, neither...

Persistent link: https://www.econbiz.de/10011452902

Dynamic Pricing Under Social Learning with Strategic Consumers

Bhalla, Manaswini - 2014

A monopolist uses prices as an instrument to influence consumers' belief about the unknown quality of its product. Consumers observe prices and sales in earlier periods to learn about the product. Every period they decide whether to consume the product or to wait for a lower price in future. We...

Persistent link: https://www.econbiz.de/10013065803

Learning from Unrealized Versus Realized Prices

Ngangoue, Kathleen - 2015

that is roughly consistent with the benchmark theory …

Persistent link: https://www.econbiz.de/10013022948

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