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DTSTART:20070311T020000
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DTSTAMP:20250401T104146
DTSTART;TZID=America/Detroit:20250418T143000
DTEND;TZID=America/Detroit:20250418T155000
SUMMARY:Workshop / Seminar:A Theory of Choice Overload
DESCRIPTION:This paper revisits the classic Pandora’s box problem\, studying a decision-maker (DM) who seeks to minimize her maximal ex-post regret. The DM decides how many options to explore before choosing one or taking an outside option. We characterize the regret-minimizing search rule and show that the likelihood of opting out often increases as more options become available for exploration. Our model thus predicts `choice overload\,’ the phenomenon by which a default alternative is more likely to be chosen in larger choice sets.
UID:132167-21870526@events.umich.edu
URL:https://events.umich.edu/event/132167
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Economics,Microeconomics,seminar,Theory
LOCATION:Lorch Hall - 301
CONTACT:
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