Date/Time Date(s) - 27/09/202411:00 am - 12:30 pm
Yoram Halevy, Professor of Economics and Director of the Toronto Experimental Economics Lab (TEEL) in the Department of Economics, University of Toronto, will present to our economics graduate students and faculty on Friday, September 27th, 11:00am-12:30pm.
Yoram’s research explores individual and strategic decision making using both theory and experiments. Yoram will present the paper “Difficult Decisions” (joint with David Walker-Jones and Lanny Zrill).
Abstract
We investigate the problem of identifying incomplete preferences in the domain of uncertainty by proposing an incentive-compatible mechanism that bounds the behaviour that can be rationalized by very general classes of complete preferences. Hence, choices that do not abide by the bounds indicate that the decision maker cannot rank the alternatives. Data collected from an experiment that implements the proposed mechanism indicates that when choices cannot be rationalized by Subjective Expected Utility they are usually incompatible with general models of complete preferences. Moreover, behaviour that is indicative of incomplete preferences is empirically associated with deliberate randomization.
View Yoram Halevy’s professional website.