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We study how violations of structural assumptions like expected utility and exponential discounting can be connected to reference dependent preferences with set-dependent reference points, even if behavior conforms with these assumptions when the reference is fixed. An axiomatic framework jointly and systematically relaxes general rationality (WARP) and structural assumptions to capture reference dependence across domains. It gives rise to a linear order that determines references points, which in turn determines the preference parameters for a choice problem. This allows us to study risk, time, and social preferences collectively, where seemingly independent anomalies are interconnected through the lens of reference-dependent choice.
We examine the long-term behavior of a Bayesian agent who has a misspecified belief about the time lag between actions and feedback, and learns about the payoff consequences of his actions over time. Misspecified beliefs about time lags result in att
We study a model in which before a conflict between two parties escalates into a war (in the form of an all-pay auction), a party can offer a take-it-or-leave-it bribe to the other one for a peaceful settlement. We distinguish between various degrees
We study the payoffs that can arise under some information structure from an interim perspective. There is a set of types distributed according to some prior distribution and a payoff function that assigns a value to each pair of a type and a belief
We study the impact of weak identification in discrete choice models, and provide insights into the determinants of identification strength in these models. Using these insights, we propose a novel test that can consistently detect weak identificatio
We study conditions for the existence of stable and group-strategy-proof mechanisms in a many-to-one matching model with contracts if students preferences are monotone in contract terms. We show that equivalence, properly defined, to a choice profile