Dear all,
Our last session will be this Friday (how sad!).
On the to do list we have:
1. Concluding our session on coordination and Schelling salience
2. Talking about one specific type of decision, related to information acquisition. Questions include:
- Shall I acquire a piece of information or not? At what cost?
- How do we value information?
- How can we reveal the value that people give to information?
- If we take the cost of acquiring information into account, do we explain away apparently irrational choices (i.e. they appear irrational only because the analysis did not take into account a relevant factor, viz. the fact that it might be rational to not acquire information).
For this discussion, I have uploaded a text on the Moodle, which will be presented by Andras Sari. The text is rather complex and include some formalism. You are NOT requested to read it (especially given the fact that our course is in two days), but if you have a look at its general argument, that could help with the conversation.
3. Well ... conclude the course. I anticipate we will not have too much time for that. But I will work on some handout that recapitulate the sessions ...
Christophe