Related papers: Future-blindness and the product topology
Users consume their favorite content in temporal proximity of consumption bundles according to their preferences and tastes. Thus, the underlying attributes of items implicitly match user preferences, however, current recommender systems…
A method is presented for imputing a topology for any chronological set, i.e., a set with a chronology relation, such as a spacetime or a spacetime with some sort of boundary. This topology is shown to have several good properties, such as…
A possibly immortal agent tries to maximise its summed discounted rewards over time, where discounting is used to avoid infinite utilities and encourage the agent to value current rewards more than future ones. Some commonly used discount…
We investigate optimal consumption policies in the liquidity risk model introduced in Pham and Tankov (2007). Our main result is to derive smoothness results for the value functions of the portfolio/consumption choice problem. As an…
Neural networks (NNs) hold great promise for advancing inverse design via topology optimization (TO), yet misconceptions about their application persist. This article focuses on neural topology optimization (neural TO), which leverages NNs…
Morris (1996, 1997) introduced preference-based definitions of knowledge and belief in standard state-space structures. This paper extends this preference-based approach to unawareness structures (Heifetz, Meier, and Schipper, 2006, 2008).…
This paper investigates an infinite horizon, discounted, consumption-portfolio problem in a market with one bond, one liquid risky asset, and one illiquid risky asset with proportional transaction costs. We consider an agent with liquidity…
We study decision-making with rational inattention in settings where agents have perception constraints. In such settings, inaccurate prior beliefs or models of others may lead to inattention blindness, where an agent is unaware of its…
An unconventional approach for optimal stopping under model ambiguity is introduced. Besides ambiguity itself, we take into account how ambiguity-averse an agent is. This inclusion of ambiguity attitude, via an $\alpha$-maxmin nonlinear…
Consumers discover their preferences through experience, yet the sequence and composition of those experiences are often designed by firms, digital platforms, or policymakers. We introduce a ``data-design'' framework for preference…
It is known that the decision to purchase an annuity may be associated to an optimal stopping problem. However, little is known about optimal strategies, if the mortality force is a generic function of time and if the `subjective' life…
For optimal stopping problems with time-inconsistent preference, we measure the inherent level of time-inconsistency by taking the time needed to turn the naive strategies into the sophisticated ones. In particular, when in a repeated…
Under non-exponential discounting, we develop a dynamic theory for stopping problems in continuous time. Our framework covers discount functions that induce decreasing impatience. Due to the inherent time inconsistency, we look for…
The consumption function maps current wealth and the exogenous state to current consumption. We prove the existence and uniqueness of a consumption function when the agent has a preference for wealth. When the period utility functions are…
This paper introduces a class of objects called decision rules that map infinite sequences of alternatives to a decision space. These objects can be used to model situations where a decision maker encounters alternatives in a sequence such…
Nontransitive choices have long been an area of curiosity within economics. However, determining whether nontransitive choices represent an individual's preference is a difficult task since choice data is inherently stochastic. This paper…
We study the impact of learning on the optimal policy and the time-to-decision in an infinite-horizon Bayesian sequential decision model with two irreversible alternatives, exit and expansion. In our model, a firm undertakes a small-scale…
Present treatments of eternal inflation regulate infinities by imposing a geometric cutoff. We point out that some matter systems reach the cutoff in finite time. This implies a nonzero probability for a novel type of catastrophe. According…
In this paper we focus our efforts on studying how a preorder and topology can be made compatible. Thus we provide a characterization of those that are continuous-compatible. Such a characterization states that such topologies must be finer…
Plausible findings about futures are inherently difficult to obtain as they require critical, well-informed speculations backed with data. HCI scholars tackle this challenge via user studies wherein futuristic prototypes and other props…