Arbeitspapier
Foundations of Bayesian theory
This paper states necessary and sufficient conditions for the existence, uniqueness, and updating according to Bayes´ rule, of subjective probabilities representing individuals´ beliefs. The approach is preference based, and the result is an axiomatic subjective expected utility model of Bayesian decision making under uncertainty with statedependent preferences. The theory provides foundations for the existence of prior probabilities representing decision makers´ beliefs about the likely realization of events and for the updating of these probabilities according to Bayes´ rule.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 524
- Classification
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
- Subject
-
Subjective expected utility
Bayesian theory
subjective probabilities.
Bayes-Statistik
Erwartungsnutzen
Theorie
Entscheidung bei Unsicherheit
- Event
-
Geistige Schöpfung
- (who)
-
Karni, Edi
- Event
-
Veröffentlichung
- (who)
-
The Johns Hopkins University, Department of Economics
- (where)
-
Baltimore, MD
- (when)
-
2005
- Handle
- Last update
-
10.03.2025, 11:44 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
- Arbeitspapier
Associated
- Karni, Edi
- The Johns Hopkins University, Department of Economics
Time of origin
- 2005
Other Objects (12)
Axiomatic Foundations of Bayesian Decision Theory
Perfect Bayesian equilibrium. Part II: epistemic foundations
Epistemic foundations of game theory
A theory of Bayesian decision making
Foundations for a General Theory of Information
On the Foundations of the Theory of Monopolistic Competition
Two lectures on the epistemic foundations of game theory
Partial identification of heteroskedastic structural VARs: Theory and Bayesian inference
Epistemic Foundations of Solution Concepts in Game Theory: An Introduction
Foundations of collective action in Asia: Theory and practice of regional cooperation
Comparison of Bayesian and sample theory parametric and semiparametric binary response models
Recent Results on Belief, Knowledge and the Epistemic Foundations of Game Theory
Axiomatic Foundations of Bayesian Decision Theory
Perfect Bayesian equilibrium. Part II: epistemic foundations
Epistemic foundations of game theory
A theory of Bayesian decision making
Foundations for a General Theory of Information
On the Foundations of the Theory of Monopolistic Competition
Two lectures on the epistemic foundations of game theory
Partial identification of heteroskedastic structural VARs: Theory and Bayesian inference
Epistemic Foundations of Solution Concepts in Game Theory: An Introduction
Foundations of collective action in Asia: Theory and practice of regional cooperation
Comparison of Bayesian and sample theory parametric and semiparametric binary response models
Recent Results on Belief, Knowledge and the Epistemic Foundations of Game Theory
Axiomatic Foundations of Bayesian Decision Theory
Perfect Bayesian equilibrium. Part II: epistemic foundations
Epistemic foundations of game theory
A theory of Bayesian decision making
Foundations for a General Theory of Information
On the Foundations of the Theory of Monopolistic Competition
Two lectures on the epistemic foundations of game theory
Partial identification of heteroskedastic structural VARs: Theory and Bayesian inference
Epistemic Foundations of Solution Concepts in Game Theory: An Introduction
Foundations of collective action in Asia: Theory and practice of regional cooperation
Comparison of Bayesian and sample theory parametric and semiparametric binary response models