Eliaz, K;
Spiegler, R;
(2006)
Can anticipatory feelings explain anomalous choices of information sources?
GAME ECON BEHAV
, 56
(1)
87 - 104.
10.1016/j.geb.2005.06.004.
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Abstract
The well-being of agents is often directly affected by their beliefs, in the form of anticipatory feelings such as anxiety and hopefulness. Economists have tried to model this effect by introducing beliefs as arguments in decision makers' vNM utility function. One might expect that such a model would be capable of explaining anomalous attitudes to information that we observe in reality. We show that the model has several shortcomings in this regard, as long as Bayesian updating is retained. (c) 2005 Elsevier Inc. All rights reserved.
| Type: | Article |
|---|---|
| Title: | Can anticipatory feelings explain anomalous choices of information sources? |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1016/j.geb.2005.06.004 |
| Keywords: | PREFERENCE |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/17309 |
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