One Two
You are here: Home Seminars 19.04. Micro Theory Seminar: Wolfgang Pesendorfer

19.04. Micro Theory Seminar: Wolfgang Pesendorfer

Micro Theory Seminar with Wolfgang Pesendorfer (Princeton University)

Event details
  • Micro Theory Seminar
When Apr 19, 2017
from 16:30 to 17:45
Where Faculty Room
Contact Name Stephan Lauermann
Contact Email
Add event to calendar vCal


Random Evolving Lotteries and Intrinsic Preference for Information



We introduce random evolving lotteries to study preference for non-instrumental information and history-dependent attitudes to risk-consumption. We provide a representation theorem for separable non-separable risk-consumption preferences and analyze the trade off between smooth consumption paths and hedging path risk. We characterize information seeking and its opposite, information aversion. We show how our rich set of choice objects allows nuanced attitudes to information, including a preference for savoring the prospect of positive surprises, or the dreading of news that will arrive soon.


Paper: Download

filed under:
Document Actions