We consider a moral hazard problem where the principal is uncertain as to what the agent
can and cannot do: she knows some actions available to the agent, but other, unknown …

We propose a positive model of empirical science in which an analyst makes a report to an
audience after observing some data. Agents in the audience may differ in their beliefs or …

This review uses the empirical analysis of portfolio choice to illustrate econometric issues
that arise in decision problems. Subjective expected utility (SEU) can provide normative …

Partial knowledge of patient health status and treatment response is a pervasive concern in
medical decision making. Clinical practice guidelines (CPGs) make recommendations …

We study a class of binary treatment choice problems with partial identification, through the
lens of robust (multiple prior) Bayesian analysis. We use a convenient set of prior …

This note describes the optimal policy rule, according to the local asymptotic minimax regret
criterion, for best arm identification when there are only two treatments. It is shown that the …

This paper studies the dynamic application of the minimax regret (MR) decision criterion to
identify robust flood risk management strategies under climate change uncertainty and …

Avoiding harm is an uncontroversial aim of personalized medicine and other epidemiologic
initiatives. However, the precise mathematical translation of “harm” is disputable. Here we …

Dynamic decisions are pivotal to economic policy making. We show how existing evidence
from randomized control trials can be utilized to guide personalized decisions in challenging …

When skeletal dysplasias are suspected in the prenatal period, investigation, counseling,
and management become especially challenging. By better understanding the complex …