7 papers
Contracting under Misspecification
Florian Mudekereza
This paper studies agency problems when both parties worry that the model linking action to output is misspecified. With observable actions, an optimal contract is linear in output…
Constraint Preferences: Inattention and Aggregation
Florian Mudekereza
We study robust decision problems when individuals have maxmin preferences whose belief sets are neighborhoods around reference models, commonly known as "constraint preferences."…
Motivating Innovation with a Misspecified Roadmap
Florian Mudekereza
We analyze a principal-agent relationship where a principal communicates a roadmap to guide an agent who is learning the value of innovation. However, the agent is concerned that t…
Complexity and Misspecification
Drew Fudenberg, Florian Mudekereza
We propose a tractable model of repeated decision problems that combines concern about model misspecification, as in robust control, with a complexity cost, such as Shannon entropy…
Robust Aggregation of Preferences
Florian Mudekereza
This paper analyzes a society composed of individuals who have diverse sets of beliefs (or models) and diverse tastes (or utility functions). It characterizes the model selection p…
Collective Intelligence in Dynamic Networks
Florian Mudekereza
We revisit DeGroot learning to examine the robustness of social learning in dynamic networks -- networks that evolve randomly over time. Dynamics have double-edged effects dependin…
Aggregate Efficiency in Games
Florian Mudekereza
We show that, in large population games, decentralized information aggregation generically corrects for individual-level biases. This establishes a new testable aggregate efficienc…