Dynamic consistency leads to Bayesian updating under expected utility. We ask what it implies for the updating of more general preferences. In this paper, we characterize dynamically consistent update rules for preference models satisfying ambiguity aversion. This characterization extends to...

Substantial evidence indicates that information is distorted during decision making. However, no studies have assessed the distortion of outcome and probability information in risky decisions or the effects of ambiguity on information distortion. We report two studies involving six binary...

In four studies, student and nonstudent participants evaluated the possible outcomes of binary decisions involving health, safety, and environmental risks (e.g., whether to issue a dam-failure evacuation order). Many participants indicated that false positives (e.g., evacuation, but no dam...

This paper presents a critical reflection on dynamic consistency as commonly used in economics and decision theory, and on the difficulty to test it experimentally. It distinguishes between the uses of the term dynamic consistency in order to characterize two different properties: the first...

Based on our experience in teaching ethics, we have developed, tested, and presented in this article a program of instruction that rests on four pillars: popular feature films, a six-stage ethical decision-making process, the principles necessary to address ethical situations, and the classroom...