Sequential decision making without independence: a new conceptual approach

Antoine Nebout

Working Papers from LAMETA, Universtiy of Montpellier

Abstract: This paper is a critical reflection on the notion of dynamic consistency that is commonly used in the literature in Economics and Decision Theory and on the difficulty to test it in an experimental set up. Building on the possible characteristics of individual dynamic preferences, we propose a conceptual categorisation of possible sequential decision making behaviors. In particular, we show that not conforming to Expected Utility Theory does not necessarily implies a violation of dynamic consistency and propose a simple set of decision tasks that allows to reveal different strategic types of resolution of a sequential decision problem by a non-expected utility maximizers.

Pages: 30 pages
Date: 2012-09, Revised 2012-09
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-gth, nep-hpe, nep-mic and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.lameta.univ-montp1.fr/Documents/DR2012-27.pdf First version, 2012 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.lameta.univ-montp1.fr:80 (No such host is known. )

Related works:
Journal Article: Sequential decision making without independence: a new conceptual approach (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lam:wpaper:12-27

Access Statistics for this paper

More papers in Working Papers from LAMETA, Universtiy of Montpellier Contact information at EDIRC.
Bibliographic data for series maintained by Patricia Modat ( this e-mail address is bad, please contact ).