Supplement to 'Subjective Dynamic Information Constraints'

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2016-04-01

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Abstract

Supplement to "Subjective Dynamic Information Constraints" (http://ssrn.com/abstract=2774300). All references to definitions and results in this Supplement refer to Dillenberger, Krishna, and Sadowski (2016, henceforth DKS) unless otherwise specified. This supplement is organized as follows. Section 1 establishes the Abstract Static Representation that is the starting point for our derivations in Appendix C of DKS. Section 2 reviews relevant notions from convex analysis. Section 3 provides a preference independent notion of minimality on the space of rics, which is referred to in Section 6 of DKS. Section 4 provides a metric on the space of partitions as referred to in Appendix A.3 of DKS. Section 5 extends the existence of the RAA representation, which is established in Krishna and Sadowski (2014) for finite prize spaces, to our domain with a compact set of prizes, as discussed in Appendix A.7 of DKS. Finally, Section 6 provides a detailed proof of the partitional representation introduced in Appendix C.1 of DKS.

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Scholars@Duke

Sadowski

Philipp Sadowski

Associate Professor of Economics

Philipp Sadowski's work focuses on microeconomic theory, decision theory and behavioral economics. A central research interest is to better understand the interaction between observable economic behavior and the often not directly observable formation of beliefs. Topics include subjective learning, rational inattention, changing tastes, and other-regarding motives such as shame and magical thinking. Philipp's research has been published in leading journals, presented internationally, and supported by the National Science Foundation.


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