Over the last few decades behavioral economics has revolutionized the discipline. It has
done so by putting the human back into economics, by recognizing that people sometimes …

Understanding how prior outcomes affect risk attitudes is critical for the study of choice under
uncertainty. A large literature documents the significant influence of prior losses on risk …

Internet users make numerous decisions online on a daily basis. With the rapid advances in
AI recently, AI-assisted decision making—in which an AI model provides decision …

The purpose of this book is to present an overview of, and introduction to, the time-
inconsistent control theory developed by the authors during the last decade. The theory is …

Whether people seek or avoid risks on gambling, insurance, asset, or labor markets crucially
depends on the skewness of the underlying probability distribution. In fact, people typically …

We document a robust dynamic inconsistency in risky choice. Using a unique brokerage
dataset and a series of experiments, we compare people's initial risk-taking plans to their …

Many of the most significant risks that people face in their lives are left-skewed, ie, imply
large losses with only small probability. I characterize skewness in binary risks, which are …

We consider the problem of stopping a diffusion process with a payoff functional that renders
the problem time‐inconsistent. We study stopping decisions of naïve agents who reoptimize …

Standard Markovian optimal stopping problems are consistent in the sense that the first
entrance time into the stopping set is optimal for each initial state of the process. Clearly, the …

Under non-exponential discounting, we develop a dynamic theory for stopping problems in
continuous time. Our framework covers discount functions that induce decreasing …