Supplement to "Random Evolving Lotteries and Intrinsic Preference for Information"

In this online appendix, we extend our formal framework to study sequential choice and we allow agents to take an action in every period. We provide a recursive formulation of our model and show that choices are dynamically consistent. We include an application of this recursive setting to address the “ostrich effect.”

Supplemental Authors: 
Gul, Faruk - Princeton University
Natenzon, Paulo - Washington University in Saint Louis
Pesendorfer, Wolfgang - Princeton University
Online Appendix