Hidden actions and preferences for timing of resolution of uncertainty
研究在信息分两阶段到达的菜单选择模型中，人们对不确定性解决时机的偏好，提出隐藏行动表示法，将时机偏好解释为在信息间隔中采取不可观测的行动，并允许比经典模型更丰富的偏好类型。
We study preferences for timing of resolution of objective uncertainty in a menu-choice model with two stages of information arrival. We characterize a general class of utility representations called hidden action representations, which interpret an intrinsic preference for timing of resolution of uncertainty as if an unobservable action is taken between the resolution of the two periods of information arrival. These representations permit a richer class of preferences for timing than was possible in the model of Kreps and Porteus (1978) by incorporating a preference for flexibility. Our model contains several special cases where this hidden action can be given a novel economic interpretation.