We review recent models of choices under uncertainty that have been proposed in the
economic literature. In particular, we show how different concepts and methods of economic …

An “ensemble” approach to decision-making involves aggregating the results from different
decision makers solving the same problem (ie, a division of labor without specialization). We …

The benefits of vicarious learning are usually conceptualized in terms of a mechanism for
learners to utilize the superior knowledge of others. Building on the fact that vicarious …

We study agents who are more likely to remember some experiences than others but update
beliefs as if the experiences they remember are the only ones that occurred. To understand …

We consider an agent who posits a set of probabilistic models for the payoff-relevant
outcomes. The agent has a prior over this set but fears the actual model is omitted and …

Learning by doing, a change in beliefs (and consequently behaviour) due to experience, is
crucial to the adaptive behaviours of organizations as well as the individuals that inhabit …

Individuals use models to guide decisions, but many models are wrong. This paper studies
which misspecified models are likely to persist when individuals also entertain alternative …

This paper studies a sequential social learning problem in which individuals face ambiguity
regarding other people's signal structures. It finds that ambiguity has a significant influence …

We consider a game in extensive form recurrently played by agents who are randomly
drawn from large populations and matched. We assume that preferences over actions at any …

Justified communication equilibrium (JCE) is an equilibrium refinement for signaling games
with cheap-talk communication. A strategy profile must be a JCE to be a stable outcome of …