5 papers · 1 filter
Measuring Economic Preferences in the Presence of Noise: The Connections Between Choices and Valuations
Ted O'Donoghue, Charles Sprenger, Po Hyun Sung +1
Past research highlights failures of "procedural invariance" when measuring economic preferences using choices versus valuations. We reassess these failures by examining theoretica…
Risk Aversion Reversals
Po Hyun Sung, Ben Wincelberg
Standard stochastic choice models used to estimate risk aversion can lead to risk-aversion reversals, where a more risk-averse individual chooses a riskier lottery more frequently…
Delegation in Strategic Environments and Equilibrium Uniqueness
Fedor Sandomirskiy, Ben Wincelberg
We ask when a normal-form game yields a single equilibrium prediction, even if players can coordinate by delegating play to an intermediary such as a platform or a cartel. Delegati…
Monotonicity and Bracketing in Games
Fedor Sandomirskiy, Po Hyun Sung, Omer Tamuz +1
We study solution concepts for normal-form games. We obtain a characterization of Nash equilibria and logit quantal response equilibria, as well as generalizations capturing non-ex…
A Separability Foundation for Random Coefficients Logit
Fedor Sandomirskiy, Po Hyun Sung, Omer Tamuz +1
We study stochastic choice across decision problems, each represented as a menu of action labels paired with observable outcome vectors. We propose a consistency condition for beha…