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 …

Toward explaining the persistence of biased inferences, we propose a framework to
evaluate competing (mis) specifications in strategic settings. Agents with heterogeneous …

I study endogenous learning dynamics for people who misperceive intertemporal
correlations in random sequences. Biased agents face an optimal‐stopping problem. They …

Although fake online customer reviews have become prevalent on platforms such as
Amazon, Google, and Facebook, little is known about how these reviews influence …

This paper examines connections between stochastic growth and decision problems. We
use tools from the theory of large deviations to show that wishful thinking decision problems …

This paper studies the forms of model misspecification that are more likely to persist when
an agent compares her subjective model with competing models. The agent learns about an …

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 …

In a model inspired by neuroscience, we study choice between lotteries as a process of
encoding and decoding noisy perceptual signals. The implications of this process for …

We study asymptotic learning when the decision-maker is ambiguous about the precision of
her information sources. She aims to estimate a state and evaluates outcomes according to …

A growing literature in economics seeks to model how agents process information and
update beliefs. In this paper, we link two common approaches:(i) defining an updating rule …