In an experts-assisted decision making paradigm, the information collection design becomes a strategic variable under a weak assumption that the final decision is dependent on the design used to collect information as well. As a result, the same information of the experts and the decision maker...

We study how changes to the informativeness of signals in Bayesian games and single-agent decision problems affect the distribution of equilibrium actions. A more precise private signal about an unknown state of the world leads to an mean-preserving spread of an agent's beliefs. Focusing on...

We study the experimentation dynamics of a decision maker (DM) in a two-armed bandit setup (Bolton and Harris [1999]), where the agent holds ambiguous beliefs regarding the distribution of the return process of one arm and is certain about the other one. The DM entertains Multiplier preferences...

We study how information affects equilibria and welfare in games. For an agent, more precise information about an unknown state of the world leads to a mean-preserving spread of beliefs. We provide necessary and sufficient conditions to obtain either a non-increasing mean or a...

This paper studies the set of Pareto optimal insurance contracts and the core of an insurance game. Our setting allows multiple insurers with translation invariant preferences. We characterise the Pareto optimal contracts, which determines the shape of the indemnities. Closed-form and numerical...

This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The authors experimentally investigate the role of imitation when participants face a task which is costly in cognitive terms. In order to disentangle different choice dynamics, they...

The standard economic model of decision making assumes a decision maker makes her choices to maximize her utility or happiness. Her current emotional state is not explicitly considered. Yet there is a large psychological literature that shows that current emotional state, in particular positive...

Several models of probabilistic choice under uncertainty allow for deterministic choice if one act state-wise dominates the other. Such models have a natural application in game theory where probabilistic choice corresponds to mixed strategies, deterministic choice — to pure strategies and...

In decision problems with absentmindedness the decision maker may manifest time-inconsistent choices in spite of unaltered preferences. In this paper we argue that this can be the case whenever the decision makeris reasoning is not appropriately modeled. More in particular, it is shown that the...

We use data from the game Show "Who wants to be a Millionaire?" and examine gender differences in decision making under uncertainty. It turns out that women and men differ in the use of decision criteria even after controlling for socio-economic variables