SMU SOE Online Seminar (Oct 14, 2021, 4.00pm-5.30pm): Learning from a Black Box

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ABSTRACT 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 cannot be 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. Click here to view the paper. Click here to view the CV.		This seminar will be held virtually via Zoom. A confirmation email with the Zoom details will be sent to the registered email by 13 October 2021.
		PRESENTER Chen Zhao The University of Hong Kong
		RESEARCH FIELDS Decision Theory Microeconomic Theory Behavioral Economics
		DATE: 14 October 2021 (Thursday)
		TIME: 4.00pm - 5.30pm