TY - JOUR
T1 - Preferences and information processing under vague information
AU - Olszewski, Wojciech
N1 - Publisher Copyright:
© 2020 Elsevier B.V.
PY - 2021/5
Y1 - 2021/5
N2 - The standard decision-theoretic model separates information and preferences. We argue that some behavioral phenomena in information processing (e.g., polarization) are closely related to this separation. We propose a model in which agents receive vague information, which they refine when they are required to make probabilistic judgments, or to take an action. By doing so, they also refine their beliefs about some traits or states (e.g., their information-processing ability), which affects their utility.
AB - The standard decision-theoretic model separates information and preferences. We argue that some behavioral phenomena in information processing (e.g., polarization) are closely related to this separation. We propose a model in which agents receive vague information, which they refine when they are required to make probabilistic judgments, or to take an action. By doing so, they also refine their beliefs about some traits or states (e.g., their information-processing ability), which affects their utility.
KW - Processing of vague information
KW - Separation of preferences and information
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U2 - 10.1016/j.jmateco.2020.102461
DO - 10.1016/j.jmateco.2020.102461
M3 - Article
AN - SCOPUS:85098647646
SN - 0304-4068
VL - 94
JO - Journal of Mathematical Economics
JF - Journal of Mathematical Economics
M1 - 102461
ER -