In a context of complete Þnancial markets where asset prices follow Ito’s processes, we characterize the set of consumption processes which are optimal for a given stochastic differential utility (e.g. Duffie and Epstein (1992)) when beliefs are unknown. Necessary and sufficient conditions for the efficiency of a consumption process, consists of the existence of a solution to a quadratic backwa...

A multi-attribute, stated-preference approach is used to value low and high impact actions on four major landscape components addressed by the Rural Environment Protection Scheme in Ireland. Several methodological issues are addressed: the use of prior beliefs on the relative magnitudes of parameters, standardized description of different levels of landscape improvements via image manipulation ...

Efficiency dictates that plans for large-scale distributed activities be revised incrementally, with parts of plans being revised only if the expected utility of identifying and revising the subplans improve on the expected utility of using the original plan. The problems of identifying and reconsidering the subplans affected by changed circumstances or goals are closely related to the problems...

Humans have a capacity to become aware of thoughts and behaviours known as metacognition. Metacognitive efficiency refers to the relationship between subjective reports and objective behaviour. Understanding how this efficiency changes as we age is important because poor metacognition can lead to negative consequences, such as believing one is a good driver despite a recent spate of accidents. ...

The hot hand fallacy is the perception positive autocorrelation when none is actually present. However, when mistaken beliefs do not affect the underlying success probability, then they come at zero cost if the underlying sequence truly exhibits independence. This paper studies an environment where success probabilities are a function of beliefs: shot selection in professional basketball. Belie...

This thesis is concerned with the ad hoc coordination problem. Therein, the goal is to design an autonomous agent which can achieve high flexibility and efficiency in a multiagent system that admits no prior coordination between the designed agent and the other agents. Flexibility describes the agent’s ability to solve its task with a variety of other agents in the system; efficiency is the rel...

BACKGROUND Further insight is needed to better understand how beliefs impact on contemporary Australian Emergency Department (ED) triage nursing practice. Specifically, how do cultural notions drive beliefs that give shape to nursing practice? METHODS Ethnography was the methodological framework used to explore triage practice. A purposeful sample of 10 Triage Nurses across four EDs was selec...

Across two studies we aimed to measure empirically the extent of non-readership of click-through agreements (CTAs), identify the dominant beliefs about CTAs contributing to non-readership, and experimentally manipulate these beliefs to decrease automatic non-reading behavior and enhance contract efficiency. In our initial questionnaire study (Study 1), as predicted, the vast majority of partici...