# Papers Sort & Filters close ## Filters Publication type expand\_more Journal (1) Journal Article (16) Manuscript (1) Working Paper (3) Year of Publication expand\_more 2026 (3) 2025 (1) 2024 (1) 2020 (1) 2019 (1) 2018 (1) 2017 (1) 2015 (2) 2014 (3) 2013 (1) 2011 (3) 2009 (1) 2008 (1) 2004 (1) Search Within Results Search Within Results search ## 21 results Show filters filter\_alt Sort by Year of PublicationAlphabetical A-Z sort ## 21 results Download 21 citations download- [BibTeX](/node/724506/export?format=bibtex) - [EndNote X3 XML](/node/724506/export?format=endnote8) - [EndNote 7 XML](/node/724506/export?format=endnote7) - [Endnote tagged](/node/724506/export?format=tagged) - [Marc](/node/724506/export?format=marc) - [PubMedId](/node/724506/export?format=pubmed_id) - [RIS](/node/724506/export?format=ris) ### Working Paper Koch, B., Imai, K. & Strzalecki, T. [An Axiomatic Foundation for Decisions with Counterfactual Utility](https://arxiv.org/abs/2605.05521). (2026). Koch, B., Imai, K. & Strzalecki, T. [An Axiomatic Foundation for Decisions with Counterfactual Utility](https://arxiv.org/abs/2605.05521). (2026). - add\_circle do\_not\_disturb\_on Abstract Counterfactual utilities evaluate decisions not only by the realized outcome under a given decision, but also by the counterfactual outcomes that would arise under alternative decisions. By generalizing standard utility frameworks, they allow decision... Lim, C. & Strzalecki, T. [Axioms and Anomalies with Finite Data](https://arxiv.org/abs/2606.15740). (2026). Lim, C. & Strzalecki, T. [Axioms and Anomalies with Finite Data](https://arxiv.org/abs/2606.15740). (2026). - add\_circle do\_not\_disturb\_on Abstract The classical expected utility (EU) axioms are not sufficient for finite datasets. There are a number of anomalies (violations of EU) where axioms are satisfied. This paper studies axioms that are immune to this problem and definitively delineate between... Strzalecki, T. [Hippocratic Utility](https://arxiv.org/abs/2603.06820). (2026). Strzalecki, T. [Hippocratic Utility](https://arxiv.org/abs/2603.06820). (2026). - add\_circle do\_not\_disturb\_on Abstract A utility function has been proposed that values more lives that are lost than those that are saved. I do not dispute the ethical motivation behind this kind of asymmetry. However, I show with a simple example that the scope of applicability of such a... Strzalecki, T. [Variational Bayes and non-Bayesian Updating](https://arxiv.org/abs/2405.08796). (2024). Strzalecki, T. [Variational Bayes and non-Bayesian Updating](https://arxiv.org/abs/2405.08796). (2024). - add\_circle do\_not\_disturb\_on Abstract - [ descriptionPublisher's Version](https://arxiv.org/abs/2405.08796) I show how variational Bayes can be used as a microfoundation for a popular model of non-Bayesian updating. - [ descriptionPublisher's Version](https://arxiv.org/abs/2405.08796) ### 2025 Strzalecki, T. & Toikka, J. [Corrigendum to “Evaluating Ambiguous Random Variables from Choquet to Maxmin Expected Utility" \[Journal of Economic Theory 192 (2021) 105129\]. Journal of Economic Theory Volume 227, June 2025, Article 106034.](/publication/corrigendum-evaluating-ambiguous-random-variables-choquet-maxmin-expected-utility) (2025) doi:10.1016/j.jet.2025.106034. Strzalecki, T. & Toikka, J. [Corrigendum to “Evaluating Ambiguous Random Variables from Choquet to Maxmin Expected Utility" \[Journal of Economic Theory 192 (2021) 105129\]. Journal of Economic Theory Volume 227, June 2025, Article 106034.](/publication/corrigendum-evaluating-ambiguous-random-variables-choquet-maxmin-expected-utility) (2025) doi:10.1016/j.jet.2025.106034. - add\_circle do\_not\_disturb\_on Abstract - [ descriptionPublisher's Version](https://doi.org/10.1016/j.jet.2025.106034) - [ picture\_as\_pdfstrzalecki-toikka-corrige...](/sites/g/files/omnuum5871/files/2025-02/strzalecki-toikka-corrigendum-to-gp2021_0.pdf) Gul and Pesendorfer (2021, GP henceforth) introduce a theory of belief updating for ambiguous random variables. In their model, the decision maker’s uncertainty is described by a totally monotone capacity π, which is updated by first forming a so-called... - [ descriptionPublisher's Version](https://doi.org/10.1016/j.jet.2025.106034) - [ picture\_as\_pdfstrzalecki-toikka-corrige...](/sites/g/files/omnuum5871/files/2025-02/strzalecki-toikka-corrigendum-to-gp2021_0.pdf) ### 2020 Fudenberg, D., Newey, W. K., Strack, P. & Strzalecki, T. [Testing the Drift-Diffusion Model](/publications/testing-drift-diffusion-model). *PNAS* **117**, 33141–33148 (2020). Fudenberg, D., Newey, W. K., Strack, P. & Strzalecki, T. [Testing the Drift-Diffusion Model](/publications/testing-drift-diffusion-model). *PNAS* **117**, 33141–33148 (2020). - add\_circle do\_not\_disturb\_on Abstract - [ picture\_as\_pdfArticle.pdf](/sites/g/files/omnuum5871/files/tomasz/files/pnas.2011446117.pdf) - [ picture\_as\_pdfSupplementary Information](/sites/g/files/omnuum5871/files/tomasz/files/supplementaryinformation_1.pdf) The drift diffusion model (DDM) is a model of sequential sampling with diffusion (Brownian) signals, where the decision maker accumulates evidence until the process hits a stopping boundary, and then stops and chooses the alternative that corresponds to... - [ picture\_as\_pdfArticle.pdf](/sites/g/files/omnuum5871/files/tomasz/files/pnas.2011446117.pdf) - [ picture\_as\_pdfSupplementary Information](/sites/g/files/omnuum5871/files/tomasz/files/supplementaryinformation_1.pdf) ### 2019 Frick, M., Iijima, R. & Strzalecki, T. [Dynamic Random Utility](/publications/dynamic-random-utility). *Econometrica* **87**, 1941–2002 (2019). Frick, M., Iijima, R. & Strzalecki, T. [Dynamic Random Utility](/publications/dynamic-random-utility). *Econometrica* **87**, 1941–2002 (2019). - add\_circle do\_not\_disturb\_on Abstract - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/frick_iijima_strzalecki.pdf) - [ picture\_as\_pdfSupplementary Appendix](/sites/g/files/omnuum5871/files/tomasz/files/dreurev-0409-supp.pdf) - [ picture\_as\_pdfPrevious version with add...](/sites/g/files/omnuum5871/files/tomasz/files/frick_iijima_strzalecki_main.pdf) We provide an axiomatic analysis of dynamic random utility, characterizing the stochastic choice behavior of agents who solve dynamic decision problems by maximizing some stochastic process (Ut) of utilities. We show first that even when (Ut) is... - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/frick_iijima_strzalecki.pdf) - [ picture\_as\_pdfSupplementary Appendix](/sites/g/files/omnuum5871/files/tomasz/files/dreurev-0409-supp.pdf) - [ picture\_as\_pdfPrevious version with add...](/sites/g/files/omnuum5871/files/tomasz/files/frick_iijima_strzalecki_main.pdf) ### 2018 Fudenberg, D., Strack, P. & Strzalecki, T. [Speed, Accuracy, and the Optimal Timing of Choices](/publications/stochastic-choice-and-optimal-sequential-sampling). *American Economic Review* **108**, 3651–3684 (2018). Fudenberg, D., Strack, P. & Strzalecki, T. [Speed, Accuracy, and the Optimal Timing of Choices](/publications/stochastic-choice-and-optimal-sequential-sampling). *American Economic Review* **108**, 3651–3684 (2018). - add\_circle do\_not\_disturb\_on Abstract - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/fudenberg-strack-strzalecki.pdf) - [ picture\_as\_pdfOnline Appendix.pdf](/sites/g/files/omnuum5871/files/tomasz/files/online_appendix-aer-2015-0742.pdf) - [ picture\_as\_pdfSlides](/sites/g/files/omnuum5871/files/ddm52.pdf) We model the joint distribution of choice probabilities and decision times in binary decisions as the solution to a problem of optimal sequential sampling, where the agent is uncertain of the utility of each action and pays a constant cost per unit time... - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/fudenberg-strack-strzalecki.pdf) - [ picture\_as\_pdfOnline Appendix.pdf](/sites/g/files/omnuum5871/files/tomasz/files/online_appendix-aer-2015-0742.pdf) - [ picture\_as\_pdfSlides](/sites/g/files/omnuum5871/files/ddm52.pdf) ### 2017 Gul, F., Pesendorfer, W. & Strzalecki, T. [Coarse Competitive Equilibrium and Extreme Prices](/publications/BCE). *American Economic Review* **107**, 109–137 (2017). Gul, F., Pesendorfer, W. & Strzalecki, T. [Coarse Competitive Equilibrium and Extreme Prices](/publications/BCE). *American Economic Review* **107**, 109–137 (2017). - add\_circle do\_not\_disturb\_on Abstract - [ picture\_as\_pdfshort slides](/sites/g/files/omnuum5871/files/tomasz/files/slides_0.pdf) - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/gul-pesendorfer-strzalecki.pdf) We introduce a notion of coarse competitive equilibrium (CCE), to study agents' inability to tailor their consumption to the state of the economy. Our notion is motivated by limited cognitive ability (in particular attention, memory, and complexity) and... - [ picture\_as\_pdfshort slides](/sites/g/files/omnuum5871/files/tomasz/files/slides_0.pdf) - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/gul-pesendorfer-strzalecki.pdf) ### 2015 Fudenberg, D., Iijima, R. & Strzalecki, T. [Stochastic Choice and Revealed Perturbed Utility](/publications/stochastic-choice-and-revealed-perturbed-utility). *Econometrica* **83**, 2371–2409 (2015). Fudenberg, D., Iijima, R. & Strzalecki, T. [Stochastic Choice and Revealed Perturbed Utility](/publications/stochastic-choice-and-revealed-perturbed-utility). *Econometrica* **83**, 2371–2409 (2015). - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/fudenberg-iijima-strzalecki.pdf) - [ picture\_as\_pdfPrevious version with add...](/sites/g/files/omnuum5871/files/tomasz/files/perturbed_choice.pdf) - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/fudenberg-iijima-strzalecki.pdf) - [ picture\_as\_pdfPrevious version with add...](/sites/g/files/omnuum5871/files/tomasz/files/perturbed_choice.pdf) Fudenberg, D. & Strzalecki, T. [Dynamic Logit with Choice Aversion](/publications/recursive-stochastic-choice). *Econometrica* **83**, 651–691 (2015). Fudenberg, D. & Strzalecki, T. [Dynamic Logit with Choice Aversion](/publications/recursive-stochastic-choice). *Econometrica* **83**, 651–691 (2015). - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/fudenberg-strzalecki.pdf) - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/fudenberg-strzalecki.pdf) ### 2014 Strzalecki, T. [Depth of Reasoning and Higher Order Beliefs](/publications/depth-reasoning-and-higher-order-beliefs). *Journal of Economic Behavior and Organization* **108**, 108–122 (2014). Strzalecki, T. [Depth of Reasoning and Higher Order Beliefs](/publications/depth-reasoning-and-higher-order-beliefs). *Journal of Economic Behavior and Organization* **108**, 108–122 (2014). - add\_circle do\_not\_disturb\_on Abstract - [ descriptionPublisher's Version](http://www.economics.harvard.edu/faculty/strzalecki/files/strzalecki-depth.pdf) - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/strzalecki-depth.pdf) As demonstrated by the email game of Rubinstein (1989), the predictions of the standard equilibrium models of game theory are sensitive to assumptions about the fine details of the higher order beliefs. This paper shows that models of bounded depth of... - [ descriptionPublisher's Version](http://www.economics.harvard.edu/faculty/strzalecki/files/strzalecki-depth.pdf) - [ picture\_as\_pdfArticle PDF](/sites/g/files/omnuum5871/files/tomasz/files/strzalecki-depth.pdf) - Previous page chevron\_left - [1](?page=0 "Current page") - [2](?page=1 "Go to page 2") - [ Next page chevron\_right ](?page=1 "Go to next page")