中文摘要
本文提出一个框架,用以评估存在误设的决策者是否愿意为那些可能使其误设程度减轻的信息付费。我们引入一种不依赖先验的方法,该方法基于“受约束的”最大遗憾,用以推导决策者对获取更准确模型之潜在收益的主观评估的上界。该约束源于决策者当前可获得的信息。我们将该方法应用于三个著名的误设信念模型:粗糙预期、因果误判与抽样均衡。(JEL D83, D84, D91)
Abstract
This paper proposes a framework for assessing whether misspecified decision-makers would be willing to pay for information that can potentially make them less misspecified. We introduce a prior-free approach, based on “constrained” maximal regret, to derive an upper bound on the subjective assessment of potential gains from acquiring a more accurate model. The constraint stems from the information currently available to the decision-maker. We apply our approach to three prominent models of misspecified beliefs: coarse expectations, causal misperceptions, and sampling equilibria. (JEL D83, D84, D91)