Following Kreps (1979), I consider a decision maker who is uncertain about her future taste. This uncertainty leaves the decision maker with a preference for flexibility: When choosing among menus containing alternatives for future choice, she weakly prefers menus with additional alternatives....

Using an approach based on evolution and adaptation, we provide foundations for a model of choice under uncertainty based on adaptive preferences, and we show that updating of those preferences in response to new information will respect dynamic consistency even at the cost of violating...

Following Kreps (1979), I consider a decision maker who is uncertain about her future taste. This uncertainty leaves the decision maker with a preference for flexibility: When choosing among menus containing alternatives for future choice, she weakly prefers menus with additional alternatives....