Arbeitspapier
Multiple Priors as Similarity Weighted Frequencies
In this paper, we consider a decision-maker who tries to learn the distribution of outcomes from previously observed cases. For each observed sequence of cases the decision-maker predicts a set of priors expressing his beliefs about the underlying probability distribution. We impose a version of the concatenation axiom introduced in BILLOT, GILBOA, SAMET AND SCHMEIDLER (2005) which insures that the sets of priors can be represented as a weighted sum of the observed frequencies of cases. The weights are the uniquely determined similarities between the observed cases and the case under investigation.
- Language
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Englisch
- Bibliographic citation
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Series: Discussion Paper Series ; No. 470
- Classification
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Wirtschaft
- Subject
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Entscheidung
Statistische Verteilung
Theorie
- Event
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Geistige Schöpfung
- (who)
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Eichberger, Jürgen
Guerdjikova, Ani
- Event
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Veröffentlichung
- (who)
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University of Heidelberg, Department of Economics
- (where)
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Heidelberg
- (when)
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2008
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Eichberger, Jürgen
- Guerdjikova, Ani
- University of Heidelberg, Department of Economics
Time of origin
- 2008