Artikel
Dynamic objective and subjective rationality
We characterize prior-by-prior Bayesian updating using a model proposed by Gilboa, Maccheroni, Marinacci and Schmeidler (2010) that jointly considers objective and subjective rationality. These rationality concepts are subject to the Bewley unanimity rule and maxmin expected utility, respectively, with a common set of priors and the same utility over consequences. We use this setup with two preference relations to develop a novel rationale for full Bayesian updating of maxmin expected utility preferences.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 14 ; Year: 2019 ; Issue: 1 ; Pages: 1-14 ; New Haven, CT: The Econometric Society
- Klassifikation
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Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
- Thema
-
Dynamic consistency
full Bayesian updating
incomplete preferences
objective rationality
subjective rationality
maxmin expected utility
multiple priors
- Ereignis
-
Geistige Schöpfung
- (wer)
-
José Faro, Heleno
Lefort, Jean-Philippe
- Ereignis
-
Veröffentlichung
- (wer)
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The Econometric Society
- (wo)
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New Haven, CT
- (wann)
-
2019
- DOI
-
doi:10.3982/TE2122
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- José Faro, Heleno
- Lefort, Jean-Philippe
- The Econometric Society
Entstanden
- 2019
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