Artikel
Non-Bayesian updating: A theoretical framework
This paper models an agent in a multi-period setting who does not update according to Bayes' Rule, and who is self-aware and anticipates her updating behavior when formulating plans. Choice-theoretic axiomatic foundations are provided to capture updating biases that reflect excessive weight given to either prior beliefs, or alternatively, to observed data. A counterpart of the exchangeable Bayesian learning model is also described.
- Sprache
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Englisch
- Erschienen in
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Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 3 ; Year: 2008 ; Issue: 2 ; Pages: 193-229 ; New York, NY: The Econometric Society
- Klassifikation
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Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
- Thema
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Non-Bayesian updating
temptation and self-control
overreaction
underreaction
learning
law of small numbers
- Ereignis
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Geistige Schöpfung
- (wer)
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Epstein, Larry G.
Noor, Jawwad
Sandroni, Alvaro
- Ereignis
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Veröffentlichung
- (wer)
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The Econometric Society
- (wo)
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New York, NY
- (wann)
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2008
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Epstein, Larry G.
- Noor, Jawwad
- Sandroni, Alvaro
- The Econometric Society
Entstanden
- 2008