4 papers
Background risk and small-stakes risk aversion
Xiaosheng Mu, Luciano Pomatto, Philipp Strack +1
We show that under plausible levels of background risk, no theory of choice under risk -- such as expected utility theory, prospect theory, or rank dependent utility -- can simulta…
Dynamically Aggregating Diverse Information
Annie Liang, Xiaosheng Mu, Vasilis Syrgkanis
An agent has access to multiple information sources, each of which provides information about a different attribute of an unknown state. Information is acquired continuously -- whe…
From Blackwell Dominance in Large Samples to Renyi Divergences and Back Again
Xiaosheng Mu, Luciano Pomatto, Philipp Strack +1
We study repeated independent Blackwell experiments; standard examples include drawing multiple samples from a population, or performing a measurement in different locations. In th…
Overabundant Information and Learning Traps
Annie Liang, Xiaosheng Mu
We develop a model of social learning from overabundant information: Short-lived agents sequentially choose from a large set of (flexibly correlated) information sources for predic…