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.
- Language
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Englisch
- Bibliographic citation
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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
- Classification
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Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
- Subject
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Non-Bayesian updating
temptation and self-control
overreaction
underreaction
learning
law of small numbers
- Event
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Geistige Schöpfung
- (who)
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Epstein, Larry G.
Noor, Jawwad
Sandroni, Alvaro
- Event
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Veröffentlichung
- (who)
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The Econometric Society
- (where)
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New York, NY
- (when)
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2008
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Epstein, Larry G.
- Noor, Jawwad
- Sandroni, Alvaro
- The Econometric Society
Time of origin
- 2008
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