2 papers
econ.TH2025
Learning in Random Utility Models Via Online Decision Problems
Emerson Melo
This paper examines the Random Utility Model (RUM) in repeated stochastic choice settings where decision-makers lack full information about payoffs. We propose a gradient-based lea…
econ.TH2024
Wishful Thinking is Risky Thinking
Jarrod Burgh, Emerson Melo
We develop a model of wishful thinking that incorporates the costs and benefits of biased beliefs. We establish the connection between distorted beliefs and risk, revealing how wis…