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METHOD:PUBLISH
BEGIN:VEVENT
DTSTAMP:20240219T100954Z
DTSTART:20240221T170000Z
DTEND:20240221T180000Z
SUMMARY:MET Seminar - Sarah Auster (Bonn)
UID:{http://www.columbasystems.com/customers/uom/gpp/eventid/}d1tn-llw51p
 s5-q6ajxp
DESCRIPTION:Title: Timing decisions under model uncertainty (joint with C
 hristian Kellner\, Southampton)\n\nAbstract: We study the effect of ambi
 guity on timing decisions. An agent faces a stopping problem with an unc
 ertain stopping payoff and a stochastic time limit. The agent is unsure 
 about the correct model quantifying the uncertainty and seeks to maximiz
 e her payoff guarantee over a set of plausible models. As time passes an
 d the agent updates\, the worst-case model used to evaluate a given stra
 tegy can change\, creating a problem of dynamic inconsistency. We charac
 terize the stopping behavior in this environment\, describing the condit
 ions under which the agent stops prematurely or waits excessively with r
 espect to the initially optimal plan. We further show that\, while the a
 gent’s myopic incentives are fragile to small changes in the set of cons
 idered models\, the best consistent plan from which no future self has i
 ncentives to deviate is robust.\n\nManchester Economic Theory (MET) sche
 dule: http://daviddelacretaz.net/seminars/\n\nSpeaker website: https://s
 arahauster.weebly.com/
STATUS:TENTATIVE
TRANSP:TRANSPARENT
CLASS:PUBLIC
LOCATION:Boardroom 2.016\, Arthur Lewis Building\, Manchester
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