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.
- Language
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Englisch
- Bibliographic citation
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Series: Research Report ; No. 2005-2
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Streufert, Peter A.
- Event
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Veröffentlichung
- (who)
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The University of Western Ontario, Department of Economics
- (where)
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London (Ontario)
- (when)
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2005
- Handle
- Last update
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10.03.2025, 11:46 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
- Streufert, Peter A.
- The University of Western Ontario, Department of Economics
Time of origin
- 2005
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