Cost-Benefit Analysis in Reasoning: The Value-of-Information Case with Forward-Looking Agent

Antonio Penta and Larbi Alaoui

No 1266, Working Papers from Barcelona School of Economics

Abstract: We extend the baseline setting in Alaoui and Penta (2018) to provide the representation of the cost-benefit analysis in reasoning 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: Choice theory; value of information; cognition and incentives; reasoning; fact-free learning; sequential heuristics; forward looking; Bayesian 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
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