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The Thrill of Gradual Learning (joint with Faruk Gul, Paulo Natenzon and Erkut Ozbay)
This seminar will take place on Zoom
We report on an experiment that shows that subjects prefer a gradual resolution of uncertainty when information about winning yields decisive bad news but inconclusive good news. This behavior is difficult to reconcile with standard theories of choice, including Kreps-Porteus preferences. We propose a new theory, Peak-Trough-Utility (Gul, Natenzon and Pesendorfer (2019), to capture the observed behavior.
It will also talk about the connected paper : www.princeton.edu/~pesendor/rel.pdf
Please sign up for meetings here: docs.google.com/spreadsheets/d/1oOdNFPS0gB3nsREcYq8_0hSXqAZ6VjlE-MozGuzhyCQ/edit#gid=0
Date:
15 May 2020, 14:15
Venue:
Venue to be announced
Speaker:
Wolfgang Pesendorfer (Princeton University)
Organising department:
Department of Economics
Part of:
Nuffield Economic Theory Seminar
Booking required?:
Not required
Audience:
Members of the University only
Editor:
Melis Clark
