Paper #1785

Títol:

Cost-benefit analysis in reasoning: The value-of-information case with forward-looking agent

Autors:

Larbi Alaoui i Antonio Penta

Data:

Juliol 2021

Resum:

We extend the baseline setting in Alaoui and Penta (2018) to provide the representation of the cost-benefit analysis in reaoning of a (non-myopic) forward looking agent who anticipates his future steps of reasoning to take the form of a partitional information structure evaluated in a Bayesian-consistent way

Paraules clau:

cognition and incentives, choice theory, reasoning, fact-free learning, sequential heuristics, value of information, forward looking, Bayesin consistency

Codis JEL:

D01; D03; D80; D83.

Àrea de Recerca:

Microeconomia

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