We propose a class of dynamic models that capture subjective (and hence unobservable) constraints on the amount of information a decision maker can acquire, pay attention to, or absorb, via an Information Choice Process (ICP). An ICP specifies the information that can be acquired about the...

We propose a class of dynamic models that capture subjective (and, hence, unobservable) constraints on the amount of information a decision maker can acquire, pay attention to, or absorb via an information choice process (ICP). An ICP specifies the information that can be acquired about the...

Purpose: Although firms try to shorten time-to-market, the duration of product development projects might anyway jeopardize the assumptions made at the beginning of the design process. This includes the definition of product attributes for ensuring customer satisfaction, thus forecasting...

Purpose: Although firms try to shorten time-to-market, the duration of product development projects might anyway jeopardize the assumptions made at the beginning of the design process. This includes the definition of product attributes for ensuring customer satisfaction, thus forecasting...

We axiomatize a new class of recursive dynamic models that capture subjective constraints on the amount of information a decision maker can obtain, pay attention to, or absorb, via a Markov Decision Process for Information Choice (MIC). An MIC is a subjective decision process that specifies what...

We analyze normatively determined distributions of language rights in multilingual settings. It is shown in a welfare-maximizing model where rights today influence the status of a language in the future, that the 'naive' ex ante cost-benefit analysis has to be augmented in various directions....