American Economic Journal:
Microeconomics
ISSN 1945-7669 (Print) | ISSN 1945-7685 (Online)
Reverse Bayesianism: A Comment
American Economic Journal: Microeconomics
vol. 10,
no. 1, February 2018
(pp. 315–24)
Abstract
Karni and Vierø (2013) present an interesting theory of decisions in the presence of new actions and consequences. We establish results on the observable implications of the model. When introducing new consequences, arbitrary preference reversals over feasible actions are permitted. This occurs even if an outside observer can uniquely pin down the decision maker's ordinal ranking over consequences.Citation
Chambers, Christopher P., and Takashi Hayashi. 2018. "Reverse Bayesianism: A Comment." American Economic Journal: Microeconomics, 10 (1): 315–24. DOI: 10.1257/mic.20160187Additional Materials
JEL Classification
- D81 Criteria for Decision-Making under Risk and Uncertainty
- D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
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