no code implementations • 2 Feb 2024 • Jarrod Burgh, Emerson Melo
We present a model elucidating wishful thinking, which comprehensively incorporates both the costs and benefits associated with biased beliefs.
no code implementations • 1 Oct 2023 • Emerson Melo, David Müller
This paper establishes a connection between a category of discrete choice models and the realms of online learning and multiarmed bandit algorithms.
no code implementations • 5 Jul 2023 • Jarrod Burgh, Emerson Melo
We develop a model of wishful thinking that incorporates the costs and benefits of biased beliefs.
no code implementations • 10 Mar 2023 • David Müller, Emerson Melo, Ruben Schlotter
Second, we show that the gradient of the distributionally robust social surplus yields the choice probability vector.
no code implementations • 5 Aug 2022 • Emerson Melo
In this paper we study a rational inattention model in environments where the decision maker faces uncertainty about the true prior distribution over states.
no code implementations • 21 Dec 2021 • Emerson Melo
This paper studies the Random Utility Model (RUM) in a repeated stochastic choice situation, in which the decision maker is imperfectly informed about the payoffs of each available alternative.
1 code implementation • 6 Oct 2020 • Austin Knies, Jorge Lorca, Emerson Melo
We make three contributions.