A space for contemplation
نویسندگان
چکیده
منابع مشابه
Costly Contemplation∗
We study preferences over opportunity sets. Such preferences are monotone if every opportunity set is at least as good as its subsets. We prove a representation theorem for monotone preferences. The representation suggests that the decision maker optimally contemplates his mood before making his ultimate choice from his opportunity set. We show that our model reduces to that of Kreps (1979) whe...
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We extend the costly contemplation model to preferences over sets of lotteries, assuming that the state-dependent utilities are von Neumann-Morgenstern. The contemplation costs are uniquely pinned down in a reduced form representation, where the decision-maker selects a subjective measure over expected utility functions instead of a subjective signal over a subjective state space. We show that ...
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This online supplement provides additional material to accompany the printed paper, henceforth denoted ES. In Section S.1, we review some mathematical background on Fenchel duality used in the proof of the representation and uniqueness results in ES. In Section S.2, we establish the necessity of the L-continuity axiom for the signed RFCC representation defined in Appendix C. Section S.3 include...
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ژورنال
عنوان ژورنال: Nature
سال: 2019
ISSN: 0028-0836,1476-4687
DOI: 10.1038/d41586-019-03915-4