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econ.TH2024★ 1 cited
Censored Beliefs and Wishful Thinking
Jarrod Burgh, Emerson Melo
We present a model elucidating wishful thinking, which comprehensively incorporates both the costs and benefits associated with biased beliefs. Our findings reveal that wishful thi…
econ.TH2023
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…