Economics Webinar

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Learning from a Black Box

3:00pm - 4:30pm
Zoom Meeting ID: 968 790 9998 (password 71144689)

We study a decision maker’s learning behavior when she receives recommendations from a black box, i.e., the decision maker does not understand how the recommendations are generated. We introduce four reasonable axioms and show that they cannotbe satisfied simultaneously. We analyze various relaxations of the axioms. In one relaxation, we introduce and characterize an updating rule, the contraction rule, which has two parameters that map each recommendation to a recommended belief and the trustworthiness of the recommendation, respectively. The decision maker’s posterior is formed by mixing her prior with the recommended belief according to the trustworthiness measure.

讲者/ 表演者:
Prof. Chen Zhao
The University of Hong Kong

https://www.fbe.hku.hk/people/chen-zhao/

语言
英文
主办单位
经济学系
联系方法

Julie Wong by email: fnjuwong@ust.hk

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