Dynamically consistent menu preferences

IF 1.2 3区经济学 Q3 ECONOMICS Economic Theory Pub Date : 2024-07-09 DOI:10.1007/s00199-024-01593-6

Youichiro Higashi, Kazuya Hyogo, Gil Riella

引用次数: 0

Abstract

We provide a unified analysis of dynamically consistent menu preferences in which an agent may exhibit a preference for flexibility, a preference for commitment, or both. Our work generalizes prior results, which investigated this problem for an agent who always exhibits preference for flexibility. By using two types of consistency conditions, we characterize an agent with a subjective state space who reacts to information about her subjective states in a dynamically consistent way. We apply our results to the uncertain strength of temptation and the anticipating regret representations, and characterize a dynamically consistent updating of the no-uncertainty representation.

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动态一致的菜单首选项

我们对动态一致的菜单偏好进行了统一分析，在这种情况下，代理人可能表现出对灵活性的偏好、对承诺的偏好或两者兼而有之。我们的工作推广了之前的研究成果，之前的研究是针对总是表现出灵活性偏好的代理研究这个问题的。通过使用两类一致性条件，我们描述了一个具有主观状态空间的代理，她会以动态一致的方式对有关其主观状态的信息做出反应。我们将结果应用于不确定的诱惑强度和预期后悔表征，并描述了无不确定性表征的动态一致性更新。

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来源期刊

Economic Theory ECONOMICS-

CiteScore

2.50

自引率

23.10%

发文量

期刊介绍： The purpose of Economic Theory is to provide an outlet for research - in all areas of economics based on rigorous theoretical reasoning, and - on specific topics in mathematics which is motivated by the analysis of economic problems. Economic Theory''s scope encompasses - but is not limited to - the following fields. - classical and modern equilibrium theory - cooperative and non-cooperative game theory - macroeconomics - social choice and welfare - uncertainty and information, intertemporal economics (including dynamical systems) - public economics - international and developmental economics - financial economics, money and banking - industrial organization Economic Theory also publishes surveys if they clearly picture the basic ideas at work in some areas, the essential technical apparatus which is used and the central questions which remain open. The development of a productive dialectic between stylized facts and abstract formulations requires that economic relevance be at the forefront. Thus, correct, and innovative, mathematical analysis is not enough; it must be motivated by - and contribute to - the understanding of substantive economic problems. Officially cited as: Econ Theory

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