  Typ výsledku
Autor celku
Název celku(Celkem 4 zázn.)
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| Keller, Godfrey; Novák, Vladimír; Willems, Tim. A note on optimal experimentation under risk aversion. Journal of Economic Theory, 2019, sv. 179, s. 476–487. ISSN 0022-0531. IF 1.204. [Článek v časopise] In a standard two-armed bandit setup, this paper shows – counterintuitively – that a more risk-averse decision maker might be more willing to take risky actions. The reason relates to the fact that pulling the risky arm in bandit models produces information on the environment – thereby reducing the risk that a decision maker will face in the future. This finding gives reason for caution when inferring risk preferences from observed actions: in a bandit setup, observing a greater appetite for risky actions can actually be indicative of more risk aversion, not less.
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| Matveenko, Andrei; Novák, Vladimír, We investigate the role of the value of a known policy with a certain payoff on the belief polarization of agents. We model agents to be rationally inattentive: some information about the new policy can be acquired before the choice is made, but doing so is costly. We show that even small changes in the agents’ perception of the status quo can lead to opinion polarization. Such behavior is caused by agents not learning about the states separately but by endogenously pooling them into groups and acquiring only necessary information for disentangling the groups of states. As a consequence, the agents might update their expected belief from the new policy wrongly, away from the true payoff. [Jiný výsledek] |
| Matveenko, Andrei and Novák, Vladimír, Presentation slides for the paper:"Status quo and Polarisation of Rational Inattentive agents" which was presented at Cognitive and Decision Group Seminar at Columbia University. The paper was upgraded thoroughly from that time and currently we are working on the draft. [Jiný výsledek] |
| Novák, Vladimír and Willems, Tim, Revise and resubmit decision of the attached paper:"A note on optimal experimentation under risk aversion" from the Journal of Economic Theory. Currently major revision of the paper is under development. [Jiný výsledek] |
