Cost-benefit analysis in reasoning: The value-of-information case with forward-looking agent

Larbi Alaoui () and Antonio Penta
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Larbi Alaoui: https://www.upf.edu/web/econ/faculty/-/asset_publisher/6aWmmXf28uXT/persona/id/3637071

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: We extend the baseline setting in Alaoui and Penta (2018) to provide the representation of the cost-benefit analysis in reaoning of a (non-myopic) forward looking agent who anticipates his future steps of reasoning to take the form of a partitional information structure evaluated in a Bayesian-consistent way

Keywords: cognition and incentives; choice theory; reasoning; fact-free learning; sequential heuristics; value of information; forward looking; Bayesin consistency (search for similar items in EconPapers)
JEL-codes: D01 D03 D80 D83 (search for similar items in EconPapers)
Date: 2021-07
New Economics Papers: this item is included in nep-mic and nep-ore
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