There are many situations in which individuals have a choice of whether or not to observe the eventual outcome. In these instances, individuals often prefer to avoid observing the outcome. The standard von Neumann-Morgenstern (vNM) Expected Utility model cannot accommodate these cases, since it...

We build a satisficing model of probabilistic choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her underlying set of EU preferences...

There are a number of cases in which individuals do not expect to find out which outcome occurs. The standard von Neumann-Morgenstern Expected Utility model cannot be used in these cases, since it does not distinguish between lotteries for which the outcomes are observed by the agent and...

There are many situations in which individuals do not expect to find out which outcome will occur. The standard vNM Expected Utility model is inappropriate in these cases, since it does not distinguish between lotteries for which the outcomes are observed by the agent and lotteries for which...

There are many situations in which individuals do not expect to find out which outcome will occur. The standard vNM Expected Utility model is inappropriate in these cases, since it does not distinguish between lotteries for which the outcomes are observed by the agent and lotteries for which...

We introduce a model of strategic thinking in games of initial response. Unlike standard models of strategic thinking, in this framework the player's "depth of reasoning" is endogenously determined, and it can be disentangled from his beliefs over his opponent's cognitive bound. In our approach,...

We develop a theory of news coverage in environments of information abundance that include both new and traditional news media, from online and print newspapers to radio and television. News consumers are time-constrained and browse through news items that are available across competing outlets,...

There are a number of cases in which individuals do not expect to find out which outcome occurs. The standard von Neumann-Morgenstern Expected Utility model cannot be used in these cases, since it does not distinguish between lotteries for which the outcomes are observed by the agent and...

There are many situations in which individuals have a choice of whether or not to observe eventual outcomes. In these instances, individuals often prefer to remain ignorant. These contexts are outside the scope of analysis of the standard von Neumann-Morgenstern (vNM) expected utility model,...

This paper shows an equivalence result between the utility functions of secular agents who abide by a moral obligation to accumulate wealth and those of religious agents who believe that salvation is immutable and preordained by God. This result formalizes Weber's renowned thesis on the...