Related papers: Randomization advice and ambiguity aversion
Ambiguity-averse decision makers typically dislike not only the presence of ambiguous events but also their increase, contrary to what standard ambiguity models predict. We axiomatically study such a decision maker. She avoids ex ante…
We conduct an incentivized experiment on a nationally representative US sample \\ (N=708) to test whether people prefer to avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55\% of…
We represent preferences that exhibit absolute or relative attitudes towards ambiguity without assuming convexity of preferences. Our analysis is motivated by the recent experimental evidence by Baillon and Placido (2019) indicating that…
Unaided human decision making appears to systematically violate consistency constraints imposed by normative theories; these biases in turn appear to justify the application of formal decision-analytic models. It is argued that both claims…
We explore whether ambiguous communication can be beneficial to the sender in a persuasion problem, when the receiver (and possibly the sender) is ambiguity averse. Our analysis highlights the necessity of using a collection of experiments…
Learning the preferences of a human improves the quality of the interaction with the human. The number of queries available to learn preferences maybe limited especially when interacting with a human, and so active learning is a must. One…
Complexity of the problem of choosing among uncertain acts is a salient feature of many of the environments in which departures from expected utility theory are observed. I propose and axiomatize a model of choice under uncertainty in which…
Many biological, psychological and economic experiments have been designed where an organism or individual must choose between two options that have the same expected reward but differ in the variance of reward received. In this way,…
Decision analysis deals with modeling and enhancing decision processes. A principal challenge in improving behavior is in obtaining a transparent description of existing behavior in the first place. In this paper, we develop an expressive,…
Completeness and transitivity are standard rationality conditions in economics. However, under ambiguity, decision makers sometimes violate these requirements because of the difficulty of forming accurate predictions about ambiguous events.…
Computational preference elicitation methods are tools used to learn people's preferences quantitatively in a given context. Recent works on preference elicitation advocate for active learning as an efficient method to iteratively construct…
I consider decision-making constrained by considerations of morality, rationality, or other virtues. The decision maker (DM) has a true preference over outcomes, but feels compelled to choose among outcomes that are top-ranked by some…
We study the design of information acquisition games-environments where a designer contracts their action on Sender's choice of experiment and the realized signals about some state-and identify which predictions can be made absent knowledge…
User queries are often underspecified and may admit multiple valid interpretations. Rather than silently making assumptions about the user's intent, a helpful assistant should surface such ambiguity by asking a clarifying question. Doing so…
This paper studies choice situations in which a decision maker can choose multiple alternatives. Given a menu of available options, the decision maker selects a subset of the menu with certain probabilities. We employ an axiomatic approach…
We consider active learning under incentive compatibility constraints. The main application of our results is to economic experiments, in which a learner seeks to infer the parameters of a subject's preferences: for example their attitudes…
The quality of rationales is essential in the reasoning capabilities of language models. Rationales not only enhance reasoning performance in complex natural language tasks but also justify model decisions. However, obtaining impeccable…
Despite strong evidence for peer effects, little is known about how individuals balance intrinsic preferences and social learning in different choice environments. Using a combination of experiments and discrete choice modeling, we show…
We introduce a model-free preference under ambiguity, as a primitive trait of behavior, which we apply once as well as repeatedly. Its single and double application yield simple, easily interpretable definitions of ambiguity aversion and…
Teaching an agent to perform new tasks using natural language can easily be hindered by ambiguities in interpretation. When a teacher provides an instruction to a learner about an object by referring to its features, the learner can…