This paper derives an exact form of partial equilibrium efficiency measure under uncertainty which is consistent with expected utility maximization in a general equilibrium situation with ex-post spot markets for many goods and asset markets which are in general incomplete.

This paper analyzes a stopping problem where the decision maker is driven by anticipated ex-post regret. There are two sources of potential dynamic inconsistency, one is arrival of information and the other is changing choice opportunities over time--discarding the current stopping option may...