Preference for Flexibility and Random Choice
研究了一个两阶段模型，第一阶段代理人对菜单有偏好，第二阶段从菜单中随机选择，主要刻画了两种状态空间一致时的联合表示，并唯一识别主观状态概率和跨状态效用大小。
We study a two-stage model where the agent has preferences over menus as in Dekel, Lipman, and Rustichini (2001) in the first period and then makes random choices from menus as in Gul and Pesendorfer (2006) in the second period. Both preference for flexibility in the first period and strictly random choices in the second period can be, respectively, rationalized by subjective state spaces. Our main result characterizes the representation where the two state spaces align, so the agent correctly anticipates her future choices. The joint representation uniquely identifies probabilities over subjective states and magnitudes of utilities across states. We also characterize when the agent completely overlooks some subjective states that realize at the point of choice.