We study the impact of manipulating the attention of a decision‐maker who learns sequentially about a number of items before making a choice. Under natural assumptions on the decision‐maker's strategy, directing attention toward one item increases its likelihood of being chosen regardless of...

Consider an investor who fears ruin when facing investments that satisfy no-arbitrage. Before investing he can purchase information about the state of nature as an information structure. Given his prior, information structure α investment dominates information structure β if, whenever he...

We show that if an agent reasons according to standard inference rules, the truth and introspection axioms extend from the set of non-epistemic propositions to the whole set of propositions. This implies that the usual axiomatization of partitional possibility correspondences is redundant, and...

Stakes affect aggregate performance in a wide variety of settings. At the individual level, we define the critical ability as an agent's ability to adapt performance to the importance of the situation. We identify individual critical abilities of professional tennis players, relying on...

We study the impact of unobservable stochastic replacements for the long-run player in the classical reputation model with a long-run player and a series of short-run players. We provide explicit lower bounds on the Nash equilibrium payoffs of a long-run player, both ex-ante and following any...