Bayesian consistent belief selection☆ Export

@article{citeulike:5341276, abstract = {A subjective expected utility agent is given information about the state of the world in the form of a set of possible priors. She is assumed to form her beliefs given this information. A set of priors may be updated according to Bayes' rule, prior-by-prior, upon learning that some state of the world has not obtained. In a model in which information is completely summarized by this set of priors, we show that there exists no decision maker who obeys Bayes' rule, conditions her prior only on the available information (by selecting a belief in the announced set), and who updates the information prior-by-prior using Bayes' rule.}, author = {Chambers, Christopher P. and Hayashi, Takashi}, citeulike-article-id = {5341276}, citeulike-linkout-0 = {http://dx.doi.org/10.1016/j.jet.2009.07.001}, citeulike-linkout-1 = {http://linkinghub.elsevier.com/retrieve/pii/S0022053109001021}, day = {29}, doi = {10.1016/j.jet.2009.07.001}, issn = {00220531}, journal = {Journal of Economic Theory}, keywords = {individual\_decision\_making, information}, month = {July}, posted-at = {2009-11-07 13:45:02}, priority = {3}, title = {Bayesian consistent belief selection☆}, url = {http://dx.doi.org/10.1016/j.jet.2009.07.001}, year = {2009} }

TY - JOUR ID - citeulike:5341276 L3 - citeulike-article-id:5341276 N2 - A subjective expected utility agent is given information about the state of the world in the form of a set of possible priors. She is assumed to form her beliefs given this information. A set of priors may be updated according to Bayes' rule, prior-by-prior, upon learning that some state of the world has not obtained. In a model in which information is completely summarized by this set of priors, we show that there exists no decision maker who obeys Bayes' rule, conditions her prior only on the available information (by selecting a belief in the announced set), and who updates the information prior-by-prior using Bayes' rule. JF - Journal of Economic Theory SN - 00220531 TI - Bayesian consistent belief selection☆ KW - individual_decision_making KW - information AU - Chambers, Christopher AU - Hayashi, Takashi PY - 2009/07/29/ UR - http://dx.doi.org/10.1016/j.jet.2009.07.001 ER -