Published Papers

• "Optimally Imprecise Memory and Biased Forecasts" , Azeredo da Silveira, Rava, Yeji Sung, Michael Woodford, American Economic Review, Volume 114, Issue 10, Pages 3075–3118, October 2024
• "Imprecise probabilistic inference from sequential data" , Arthur Prat-Carrabin, Michael Woodford, Psychological Review, 2024
• "Experimental Tests of Rational Inattention" , Mark Dean, Nathaniel Neligh, Journal of Political Economy, forthcoming
• "Rational Inattention when Decisions Take Time" , Benjamin Hébert, Michael Woodford, Journal of Economic Theory, January 2023
• "The effects of base rate neglect on sequential belief updating and real-world beliefs" , Brandon K. Ashinoff, Justin Buck, Michael Woodford, Guillermo Horga, PLOS Computational Biology, December 2022
• "Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy" , Andrew Caplin, Mark Dean, John Leahy, Journal of Political Economy, Volume 130, Issue 6, June 2022
• "Cognitive Imprecision and Small-Stakes Risk Aversion" , Mel Win Khaw, Ziang Li, Michael Woodford, Review of Economic Studies, Volume 88, Issue 4, Pages 1979-2013, July 2021
• "Outlier Blindness: A Neurobiological Foundation for Neglect of Financial Risk" , Elise Payzan-LeNestour, Michael Woodford, Journal of Financial Economics, forthcoming
• "Neighborhood-Based Information Costs" , Ben Hébert, Michael Woodford, American Economics Review, Volume 111, Issue 10, Pages 3225-55, October 2021
• "Individual Differences in the Perception of Probability" , Mel Win Khaw, Luminita Stevens, Michael Woodford, PLOS Computational Biology, Volume 17, Issue 4, Pages e1008871, April 2021
• "Estimating Information Cost Functions in Models of Rational Inattention" , Ambuj Dewan, Nathaniel Neligh, Journal of Economic Theory, Volume 187, Pages Article No. 105011, May 2020
• "Modeling Imprecision in Perception, Valuation and Choice" , Michael Woodford, Annual Review of Economics, Volume 12, Pages 579-601, May 2020
• "Endogenous Quantal Response Equilibrium" , Evan Friedman, Games and Economic Behavior, Volume 124, Pages 620-643, November 2020
• "Diverse Motives for Human Curiosity" , Kenji Kobayashi, Silvio Ravaioli, Adrien Baranes, Michael Woodford, Jacqueline Gottlieb, Nature Human Behaviour, Volume 3, Pages 587–595, April 2019
• "Rational Inattention, Optimal Consideration Sets and Stochastic Choice" , Andrew Caplin, Mark Dean, John Leahy, Review of Economic Studies, Volume 86, Issue 3, Pages 1061-1094, May 2019
• "Temporal Discounting and Search Habits: Evidence for a Task-Dependent Relationship" , Mel Win Khaw, Ziang Li, Michael Woodford, Frontiers in Psychology: Decision Neuroscience, Volume 9, Pages art. 2102, November 2018
• "Discrete Adjustment to a Changing Environment: Experimental Evidence" , Mel Win Khaw, Luminita Stevens, Michael Woodford, Journal of Monetary Economics, Volume 15, Pages 469-473, December 2017
• "Limited Attention and Status Quo Bias" , Mark Dean, Özgür Kıbrıs, Yusufcan Masatlioglu, Journal of Economic Theory, Volume 169, Pages 93-127, May 2017
• "Saticficing and Stochastic Choice" , Victor Aguilar, Maria Jose Boccardi, Mark Dean, Journal of Economic Theory, Volume 166, Pages 445-482, November 2016
• "Revealed Preference, Rational Inattention and Costly Information Acquisition" , Andrew Caplin, Mark Dean, American Economic Review, Volume 105, Issue 7, Pages 2183-2203, July 2015
• "Stochastic Choice: An Optimizing Neuroeconomic Model" , Michael Woodford, The American Economic Review, Volume 104.5, Pages 495-500, January 2014
• "The Price of Flexibility: Towards a Theory of Thinking Aversion" , Pietro Ortoleva, Journal of Economic Theory, Volume 148, Issue 3, Pages 903–934, May 2013
• "Prospect Theory as Efficient Perceptual Distortion" , Michael Woodford, The American Economic Review, Volume 102.3, Pages 41-46, May 2012
• "Search and Satisficing" , Andrew Caplin, Mark Dean, Daniel Martin, The American Economic Review, Volume 101, Issue 7, Pages 2899-2922, December 2011
• "Search, Choice and Revealed Preference" , Andrew Caplin, Mark Dean, Theoretical Economics, Volume 6, Pages 19-48, January 2011
• "Information-Constrained State-Dependent Pricing" , Michael Woodford, Journal of Monetary Economics, Volume 56, Pages S100-S124, June 2009

Working Papers

• "Rational Choice Overload" , Lucas de Lara, Mark Dean, May 2024
• "Cognitive Imprecision and Stake-Dependent Risk Attitudes" , Mel Win Khaw, Ziang Li, Michael Woodford, September 2024
• "Sequential Sampling and Equilibrium​" , Duarte Gonçalves, November 2022
• "The Status Quo and Belief Polarization of Inattentive Agents: Theory and Experiment" , Vladimir Novak, Andrei Matveenko, Silvio Ravaioli, March 2021
• "The Effect of Incentives on Choices and Beliefs in Games. An Experiment" , Teresa Esteban-Casanelles, Duarte Gonçalves, November 2020
• "Optimally Imprecise Memory and Biased Forecasts" , Rava Azeredo da Silveira, Yeji Sung, Michael Woodford, November 2020
• "Rational Inattention when Decisions Take Time" , Benjamin Hébert, Michael Woodford, October 2019
• "Information Costs and Sequential Information Sampling" , Benjamin Hébert, Michael Woodford, November 2018
• "Rational Inattention in Continuous Time" , Benjamin Hébert, Michael Woodford, November 2018
• "Optimal Evidence Accumulation and Stochastic Choice" , Michael Woodford, August 2016
• "The Behavioral Implications of Rational Inattention with Shannon Entropy" , Andrew Caplin, Mark Dean, August 2013
• "Inattentive Valuation and Reference Dependent Choice" , Michael Woodford, May 2012
• "Inattention as a Source of Random Discrete Adjustments" , Michael Woodford, April 2008

Published Papers

• "Fiscal and Monetary Stabilization Policy at the Zero Lower Bound: Consequences of Limited Foresight" , Michael Woodford, Yinxi Xie, Journal of Monetary Economics, Volume 125, Pages 18-35, January 2022
• "Noisy Memory and Over-Reaction to News" , Rava Azaredo da Silveira, Michael Woodford, AEA Papers and Proceedings, Volume 109, Pages 557-561, May 2019
• "Policy Options at the Zero Lower Bound when Foresight is Limited" , Michael Woodford, Yinxi Xie, AEA Papers and Proceedings, Volume 109, Pages 433-437, May 2019
• "Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis" , Mariana García-Schmidt, Michael Woodford, American Economic Review, Volume 109, Pages 86-120, January 2019
• "Monetary Policy Analysis when Planning Horizons are Finite" , Michael Woodford, NBER Macroeconomics Annual, Volume 33, Pages 1-50, April 2018
• "Macroeconomic Analysis without the Rational Expectations Hypothesis" , Michael Woodford, Annual Review of Economics, Volume 5.1, Pages 303-346, August 2013
• "Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model" , Klaus Adam, Michael Woodford, Journal of Monetary Economics, Volume 59, Pages 468-487, 2012
• "Robustly Optimal Monetary Policy with Near-Rational Expectations" , Michael Woodford, American Economic Review, Volume 100, Issue 1, Pages 274-303, March 2010

Working Papers

• "Macroeconomic Expectations and Cognitive Noise" , Yeji Sung, December 2022
• "What Can Measured Beliefs Tell Us About Monetary Non-Neutrality?" , Hassan Afrouzi, Joel P. Flynn, Choongryul Yang, June 2024
• "Dynamic Rational Inattention and the Phillips Curve" , Hassan Afrouzi, Choongryul Yang, December 2020
• "Strategic Inattention, Inflation Dynamics and the Non-Neutrality of Money" , Hassan Afrouzi, March 2020
• "Robustly Optimal Monetary Policy in a New Keynesian Model with Housing" , Klaus Adam, Michael Woodford, February 2020
• "Deeper Habits" , Mel Win Khaw, Oskar Zorrilla, November 2018

Published Papers

• "Econographics" , Jonathan Chapman, Mark Dean, Pietro Ortoleva, Erik Snowberg, Colin Camerer, Journal of Political Economy Microeconomics, January 2023
• "The Empirical Relationship Between Nonstandard Economic Behaviors" , Mark Dean, Pietro Ortoleva, Proceedings of the National Academy of Sciences of the United States of America, June 2019
• "Allais, Ellsberg and Hedging" , Mark Dean, Pietro Ortoleva, Theoretical Economics, Volume 12, Pages 377-424, January 2017

Working Papers

• "On the Relationship Between Willingness to Accept and Willingness to Pay" , Jonathan Chapman, Mark Dean, Pietro Ortoleva, Erik Snowberg, Colin Camerer, May 2021

Published Papers

• "Representational Geometry Explains Puzzling Error Distributions in Behavioral Tasks" , Xuexin Wei, Michael Woodford, Proc. Natl. Acad. Sci. U.S.A., Volume 122, Issue 4, Pages e2407540122, January 2025
• "Jointly Efficient Encoding and Decoding in Neural Populations" , Simone Blanco Malerba, Aurora Micheli, Michael Woodford, Rava Azeredo da Silveira, PLoS Comput Biol, Volume 20, Issue 7, Pages e1012240, July 2024
• "Neurophysiological markers of emotion regulation predict efficacy of entrepreneurship education" , Pablo Egana-delSol, Xiaoxiao Sun, Paul Sajda, Scientific Reports, May 3, 2023
• "Efficient Coding of Numbers Explains Decision Bias and Noise" , Arthur Prat-Carrabin, Michael Woodford, Nature Human Behaviour, May 30, 2022
• "Bias and Variance of the Bayesian-Mean Decoder" , Arthur Prat-Carrabin, Michael Woodford, Advances in Neural Information Processing Systems, Volume 34, 2021
• "Is EEG Suitable for Marketing Research? A Systematic Review" , Andrea Bazzani, Silvio Ravaioli, Leopoldo Trieste, Ugo Faraguna, Giuseppe Turchetti, Frontiers in Neuroscience, December 2020
• "Efficient Sampling and Noisy Decisions" , Joseph A. Heng, Michael Woodford, Rafael Polania, eLife, Volume 9, Pages e54962, September 2020
• "Multiple Conceptions of Resource Rationality" , WeiJi Ma, Michael Woodford, Behavioral and Brain Science, Volume 43, Pages e15, March 11, 2020
• "Efficient Coding of Subjective Value" , Rafael Polanía, Michael Woodford, Christian C. Ruff, Nature Neuroscience, Volume 22, Pages 134-142, January 2019
• "How can Neuroscience inform Economics?" , Mark Dean, Ian Krajbich, Current Opinion in Behavioral Sciences, Volume 4, Pages 51-57, October 2015
• "What Can Neuroeconomics Tell us About Economic Decision Making?" , Mark Dean, Comparative Decision Making, Philip Crowley and Thomas Zentall, eds, May 2012
• "Testing the Reward Prediction Error Hypothesis with an Axiomatic Model" , Robb Rutledge, Mark Dean, Andrew Caplin, Paul Glimcher, Journal of Neuroscience, Volume 30, Issue 40, Pages 13525-13535, October 2010
• "Measuring Beliefs and Rewards: A Neuroeconomic Approach" , Andrew Caplin, Mark Dean, Paul Glimcher, Robb Rutledge, Quarterly Journal of Economics, Volume 125, Issue 3, Pages 923-960, August 2010
• "Axiomatic Methods, Dopamine and Reward Prediction Error" , Andrew Caplin, Mark Dena, Current Opinion in Neurobiology, Volume 18, Issue 2, Pages 197-202, August 2008
• "Dopamine, Reward Prediction Error, and Economics" , Andrew Caplin, Mark Dean, Quarterly Journal of Economics, Volume 123, Issue 2, Pages 663-701, May 2008

Working Papers

• "Adaptive Efficient Coding: A Variational Autoencoder Approach" , Guy Aridor, Francesco Grechi, Michael Woodford, May 31, 2020

Published Papers

• "The Language of (Non)replicable Social Science" , Michal Herzenstein, Sanjana Rosario, Shin Oblander, Oded Netzer, Psychological Science, forthcoming
• "Beyond Unbounded Beliefs: How Preferences and Information Interplay in Social Learning" , Navin Kartik, SangMok Lee, Tianhao Liu, Daniel Rappoport, Econometrica, forthcoming
• "Is It the Message or the Messenger? Examining Movement in Immigration Beliefs" , Hassan Afrouzi, Carolina Arteaga, Emily Weisburst, Journal of Political Economy Microeconomics, Volume 2, Issue 2, Pages 201-397, May 2024
• "Endogenous Precision of the Number Sense" , Arthur Prat-Carrabin, Michael Woodford, eLife, Volume 13, Pages RP101277, September 2024
• "Frontiers: Estimating the Long-Term Impact of Major Events on Consumption Patterns: Evidence from COVID-19" , Shin Oblander, Daniel Minh McCarthy, Marketing Science, Volume 42, Issue 5, Pages 839-852, September 2023
• "Overreaction in Expectations: Evidence and Theory" , Hassan Afrouzi, Spencer Y Kwon, Augustin Landier, Yueran Ma, David Thesmar, The Quarterly Journal of Economics, Volume 138, Issue 3, Pages 1713-1764, August 2023
• "Strategy inference during learning via cognitive activity-based credit assignment models" , Ashwin James, Patricia Reynaud-Bouret, Giulia Mezzadri, Francesca Sargolini, Ingrid Bethus, Alexandre Muzy, Scientific Reports, June 2023
• "Stochastic Equilibria: Noise in Actions or Beliefs?" , Evan Friedman, American Economic Journal: Microeconomics, Volume 14, Issue 1, Pages 94-142, February 2022
• "Deconstructing the Filter Bubble: User Decision-Making and Recommender Systems" , Guy Aridor, Duarte Goncalves, Shan Sikdar, Proceedings of the ACM Conference on Recommender Systems, Pages 82-91, September 2020
• "Stochastic Choice and Preferences for Randomization" , Marina Agranov, Pietro Ortoleva, Journal of Political Economy, Volume 125.1, Pages 40-68, February 2017
• "Cautious Expected Utility and the Certainty Effect" , Simone Cerreia-Vioglio, David Dillenberger, Pietro Ortoleva, Econometrica, Volume 83, Issue 2, Pages 693-728, March 2015
• "Incomplete Preferences under Uncertainty: Indecisiveness in Beliefs vs. Tastes" , Efe Ok, Pietro Ortoleva, Gil Riella, Econometrica, Volume 80, Issue 4, Pages 1791–1808, July 2012
• "Status Quo Bias, Multiple Priors and Uncertainty Aversion" , Pietro Ortoleva, Games and Economic Behavior, Volume 69, Pages 411–424, July 2010

Working Papers

• "Imprecise Counting of Observations in Averaging Tasks Predicts Primacy and Recency Effects" , Arthur Prat-Carrabin, Michael Woodford, October 2024
• "Probabilistic Machine Learning: New Frontiers for Modeling Consumers and their Choices" , Ryan Dew, Nicolas Padilla, Lan E. Luo, Shin Oblander, Asim Ansari, Khaled Boughanmi, Michael Braun, Fred M. Feinberg, Jia Liu, Thomas Otter, Longxiu Tian, Yixin Wang, Mingzhang Yin, April 2024
• "‘Did You Catch the Game Last Night?’ Peer Group Effects in Sell-Side Analyst Forecasts" , Lukas F. Fischer, Edward P. Shore, April 2023
• "Beyond Unbounded Beliefs: How Preferences and Information Interplay in Social Learning" , Navin Kartik, SangMok Lee, Tianhao Liu, Daniel Rappoport, December 2022
• "A Better Test of Choice Overload" , Mark Dean, Dilip Ravindran, Jörg Stoye, December 2022
• "Stochastic Choice and Noisy Beliefs in Games: an Experiment" , Evan Friedman, Jeremy Ward, July 2021
• "Learning versus Unlearning: An Experiment on Retractions" , Duarte Gonçalves, Jonathan Libgober, Jack Willis, June 2021
• "Competing Bandits: The Perils of Exploration Under Competition" , Guy Aridor, Yishay Mansour, Aleksandrs Slivkins, Zhiwei Steven Wu, March 2021
• "Diagonal Games: A Tool for Experiments and Theory" , Duarte Gonçalves, September 2020
• "Deliberately Stochastic" , Simone Cerreia-Vioglio, David Dillenberger, Pietro Ortoleva, Gil Riella, May 2018
• "Status Quo Bias in Large and Small Choice Sets" , Mark Dean, November 2008