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Article: Learning from a Black Box
| Title | Learning from a Black Box |
|---|---|
| Authors | |
| Issue Date | 8-Aug-2024 |
| Publisher | Elsevier |
| Citation | Journal of Economic Theory, 2024 How to Cite? |
| Abstract | We introduce a learning model in which the decision maker does not know how recommendations are generated, called the contraction rule. We present behavioral postulates that characterize it. The contraction rule can be uniquely identified and reveals how the decision maker interprets and how much she trusts the recommendation. In a dynamic stationary setting, we show that the contraction rule is not dominated by completely following recommendations and is incompatible with a property called compliance with balanced recommendations. Following this negative result, we demonstrate that the contraction rule may generate and reinforce recency bias and disagreement. |
| Persistent Identifier | http://hdl.handle.net/10722/344970 |
| ISSN | 2023 Impact Factor: 1.4 2023 SCImago Journal Rankings: 3.218 |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Ke, Shaowei | - |
| dc.contributor.author | Wu, Brian | - |
| dc.contributor.author | Zhao, Chen | - |
| dc.date.accessioned | 2024-08-14T08:56:35Z | - |
| dc.date.available | 2024-08-14T08:56:35Z | - |
| dc.date.issued | 2024-08-08 | - |
| dc.identifier.citation | Journal of Economic Theory, 2024 | - |
| dc.identifier.issn | 0022-0531 | - |
| dc.identifier.uri | http://hdl.handle.net/10722/344970 | - |
| dc.description.abstract | <p>We introduce a learning model in which the decision maker does not know how recommendations are generated, called the contraction rule. We present behavioral postulates that characterize it. The contraction rule can be uniquely identified and reveals how the decision maker interprets and how much she trusts the recommendation. In a dynamic stationary setting, we show that the contraction rule is not dominated by completely following recommendations and is incompatible with a property called compliance with balanced recommendations. Following this negative result, we demonstrate that the contraction rule may generate and reinforce recency bias and disagreement.<br></p> | - |
| dc.language | eng | - |
| dc.publisher | Elsevier | - |
| dc.relation.ispartof | Journal of Economic Theory | - |
| dc.title | Learning from a Black Box | - |
| dc.type | Article | - |
| dc.identifier.doi | 10.1016/j.jet.2024.105886 | - |
| dc.identifier.eissn | 1095-7235 | - |
| dc.identifier.issnl | 0022-0531 | - |