A Theory of Intuition and Contemplation

Benjamin Balzer () and Benjamin Young ()
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Benjamin Balzer: University of Technology Sydney
Benjamin Young: University of Technology Sydney

No 2020/01, Working Paper Series from Economics Discipline Group, UTS Business School, University of Technology, Sydney

Abstract: We introduce a model of intuition and contemplation in decision problems under uncertainty. Intuition is a garbling of true information and contemplation is the ability to recover the true informational content of signals. We define natural orders on the quality of intuition and on contemplative ability. In any non-strategic decision problem, the agent�s utility increases as either the quality of her intuition or her contemplative ability improves. We derive versions of Blackwell�s Informativeness Theorem for our intuitive agent and apply the model to the canonical Bayesian persuasion problem.

Pages: 54 pages
Date: 2020-02-01
New Economics Papers: this item is included in nep-mic and nep-upt
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