This paper studies the outcome of the amendment voting procedure based on a potentially incomplete binary relation. We assume that the decision-maker evaluates candidates in a list and iteratively updates her choice by comparing the status-quo to the next candidate. With a complete binary relation, it is known that the final selected candidate belongs to the “top cycle.” In reality however, not...

We study the demand function of a group of S members facing a global budget constraint. Any vector belonging to the budget set can be consumed within the group, with no restriction on the form of individual preferences, the nature of individual consumptions or the form of the decision process beyond efficiency. Moreover, only the group aggregate behavior, summarized by its demand function, is o...

delayed chondrocyte differentiation since Indian hedgehog (Ihh) is not expressed in the ulna of Ulnaless or Hoxa11//d11/ mice. Fibroblast growth factor 3 (Fgfr3), which is expressed at low levels in distal cells and at high levels in columnar chondrocytes, shows low expression in the Ulnaless and Hoxa11//d11/ zeugopod resembling the expression level in distal chondrocytes. However, the Unique c...

delayed chondrocyte differentiation since Indian hedgehog (Ihh) is not expressed in the ulna of Ulnaless or Hoxa11//d11/ mice. Fibroblast growth factor 3 (Fgfr3), which is expressed at low levels in distal cells and at high levels in columnar chondrocytes, shows low expression in the Ulnaless and Hoxa11//d11/ zeugopod resembling the expression level in distal chondrocytes. However, the Unique c...

This paper develops axiomatically a revealed preference theory of reference-dependent choice behavior. Instead of taking the reference for an agent as exogenously given in the description of a choice problem, we suitably relax the Weak Axiom of Revealed Preference to obtain, endogenously, the existence of reference alternatives as well as the structure of choice behavior conditional on those al...

A (partially naïve) quasi-hyperbolic discounter repeatedly chooses whether to complete a task. Her net benefits of task completion are drawn independently between periods from time-invariant distribution. We show that the probability completing conditional on not having done so earlier increases towards deadline. Conversely, we establish nonidentifiability by proving for any time-preference par...

delayed chondrocyte differentiation since Indian hedgehog (Ihh) is not expressed in the ulna of Ulnaless or Hoxa11//d11/ mice. Fibroblast growth factor 3 (Fgfr3), which is expressed at low levels in distal cells and at high levels in columnar chondrocytes, shows low expression in the Ulnaless and Hoxa11//d11/ zeugopod resembling the expression level in distal chondrocytes. However, the Unique c...

We derive a new cost of information in rational inattention problems, the neighborhood-based functions, starting from observation that many settings involve exogenous states with topological structure. These functions are uniformly posterior separable and capture notions perceptual distance. This second property ensures costs, unlike mutual information, make accurate predictions about behavior ...

We study the life cycle of a firm that produces good unknown quality. The manages its quality by investing while consumers learn via public breakthroughs; if fails to generate such breakthroughs, revenue falls and it eventually exits. Optimal investment depends on firm’s reputation (the market’s belief about quality) self-esteem own quality), is single-peaked in time since breakthrough. derive ...