Philipp Sadowski


PUBLISHED AND FORTHCOMING PAPERS

Magical Thinking: A Representation Result, with Brendan Daley [April 2016]
Theoretical Economics, forthcoming
Abstract
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Supplementary Appendix

Overeagerness [August 2016]
Journal of Economic Behavior and Organization, forthcoming
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A Theory of Subjective Learning, with David Dillenberger, Juan Lleras, and Norio Takeoka [September 2014]
Some results previously appeared in "Subjective Learning" with David Dillenberger.
Journal of Economic Theory, Vol 153, 287-312
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Dynamic Preference for Flexibility, with R. Vijay Krishna [May 2014]
Econometrica, Vol 82(2), 655-704
Abstract: We consider a decision maker who faces dynamic decision situations that involve intertemporal tradeoffs, as in consumption-savings problems, and who experiences taste shocks that are transient contingent on the state of the world. We axiomatize a recursive representation of choice over state contingent infinite horizon consumption problems, where uncertainty about consumption utilities depends on the observable state and the state follows a subjective Markov process. The parameters of the representation are the subjective process governing the evolution of beliefs over consumption utilities and the discount factor; they are uniquely identified from behavior. We characterize a natural notion of greater preference for flexibility in terms of a dilation of beliefs. An important special case of our representation is a recursive version of the Anscombe-Aumann model with parameters that include a subjective Markov process over states and state dependent utilities, all of which are uniquely identified.

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Contingent Preference for Flexibility: Eliciting Beliefs from Behavior [May 2013]
Theoretical Economics, Vol 8, 503-534
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Ashamed to be Selfish, with David Dillenberger [January 2012]
Theoretical Economics, Vol 7, 99-124
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WORKING PAPERS

Subjective Information Choice Processes with David Dillenberger and R. Vijay Krishna [November 2017]
Abstract
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Supplementary Appendix

Inertial Behavior and Generalized Partition with David Dillenberger [May 2016]
Some results previously appeared in "Subjective Learning" with David Dillenberger. This paper supersedes ERID-132.
Abstract
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Preferences with Taste Shock Representations: Price Volatility and the Liquidity Premium,
with R. Vijay Krishna [June 2016]
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Randomly Evolving Tastes and Delayed Commitment, with R. Vijay Krishna [June 2016]
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Department of Economics, Duke University, Box 90097, Durham, NC 27708, USA | 919 660 1821 | p.sadowski (at) duke (dot) edu