Belief-dependent motivations and psychological game theory
P Battigalli, M Dufwenberg - Journal of Economic Literature, 2022 - aeaweb.org
The mathematical framework of psychological game theory is useful for describing many
forms of motivation where preferences depend directly on one's own or others' beliefs. It …
forms of motivation where preferences depend directly on one's own or others' beliefs. It …
Deliberately stochastic
We study stochastic choice as the outcome of deliberate randomization. We derive a general
representation of a stochastic choice function where stochasticity allows the agent to …
representation of a stochastic choice function where stochasticity allows the agent to …
Optimal Insurance: Dual Utility, Random Losses, and Adverse Selection
A Gershkov, B Moldovanu, P Strack… - American Economic …, 2023 - aeaweb.org
We study a generalization of the classical monopoly insurance problem under adverse
selection (see Stiglitz 1977) where we allow for a random distribution of losses, possibly …
selection (see Stiglitz 1977) where we allow for a random distribution of losses, possibly …
Revealing a preference for mixtures: An experimental study of risk
Using a revealed preference approach, we conduct an experiment where subjects make
choices from linear convex budgets in the domain of risk. We find that many individuals …
choices from linear convex budgets in the domain of risk. We find that many individuals …
Monotone additive statistics
The expectation is an example of a descriptive statistic that is monotone with respect to
stochastic dominance, and additive for sums of independent random variables. We provide …
stochastic dominance, and additive for sums of independent random variables. We provide …
Ranges of randomization
M Agranov, P Ortoleva - Review of Economics and Statistics, 2023 - direct.mit.edu
A growing literature has shown that people sometimes prefer to randomize between two
options. We investigate how prevalent this behavior is in an experiment using a novel and …
options. We investigate how prevalent this behavior is in an experiment using a novel and …
From predictive algorithms to automatic generation of anomalies
S Mullainathan, A Rambachan - 2024 - nber.org
Machine learning algorithms can find predictive signals that researchers fail to notice; yet
they are notoriously hard-to-interpret. How can we extract theoretical insights from these …
they are notoriously hard-to-interpret. How can we extract theoretical insights from these …
[PDF][PDF] Ranges of preferences and randomization
M Agranov, P Ortoleva - Report, Princeton Univ.[659], 2020 - agranov.caltech.edu
Using a novel and simple method we capture ranges of preferences: ranges of values for
which agents prefer neither of two options, but rather to randomize between them. In an …
which agents prefer neither of two options, but rather to randomize between them. In an …
Optimal auctions: Non-expected utility and constant risk aversion
A Gershkov, B Moldovanu, P Strack… - The review of economic …, 2022 - academic.oup.com
We study auction design for bidders equipped with non-expected utility preferences that
exhibit constant risk aversion (CRA). The CRA class is large and includes loss-averse …
exhibit constant risk aversion (CRA). The CRA class is large and includes loss-averse …
[图书][B] Psychological game theory
P Battigalli, M Dufwenberg - 2019 - eller.arizona.edu
The mathematical framework of psychological game theory is useful for describing many
forms of motivation where preferences depend directly on own or others' beliefs. It allows for …
forms of motivation where preferences depend directly on own or others' beliefs. It allows for …