Department of Mathematics

Speaker: Yu-Jui Huang
Title: Decision Making Under Time-Inconsistency
Affiliation: Dublin City University
Date: Friday, January 16, 2015
Place and Time: Room 101, Love Building, 3:35-4:30 pm
Refreshments: Room 204, Love Building, 3:00 pm

Abstract. This talk will introduce two sources of time-inconsistency, or "regret over time", of people's decision making: 1) non-exponential discounting and 2) probability distortion. We will demonstrate how they lead to time-inconsistency, and how game theory can be utilized to overcome this issue. Finally, we will propose the problem of "optimal time-consistent stopping", as opposed to classical optimal stopping.