Arbeitspapier
Two characterizations of consistency
This paper offers two characterizations of the Kreps-Wilson concept of consistent beliefs. One is primarily of applied interest: beliefs are consistent iff they can be constructed by multiplying together vectors of monomials which induce the strategies. The other is primarily of conceptual interest: beliefs are consistent iff they can be induced by a product dispersion whose marginal dispersions induce the strategies (a dispersion is defined as a relative probability system, and a product dispersion is defined as a joint dispersion whose marginal dispersions are independent). Both these characterizations are derived with linear algebra.
- Sprache
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Englisch
- Erschienen in
-
Series: Research Report ; No. 2005-2
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Streufert, Peter A.
- Ereignis
-
Veröffentlichung
- (wer)
-
The University of Western Ontario, Department of Economics
- (wo)
-
London (Ontario)
- (wann)
-
2005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Streufert, Peter A.
- The University of Western Ontario, Department of Economics
Entstanden
- 2005
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