Subjective Distributions

A decision maker has to choose one of several random variables, with uncertainty known distributions. As a Bayesian she behaves as if she knew the distributions. In his paper we suggest an axiomatic derivation of these (subjective) distributions, which is much more economical than the derivations by de Finetti or Savage. They derive the whole joint distribution of all the available random variables.

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Year of publication:	2001-12
Authors:	Gilboa, Itzhak ; Schmeidler, David
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Subjective probabilities \| expected utility

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in Theory and Decisions (2004), 56: 345-357 The price is None Number 1341 13 pages
Classification:	D70 - Analysis of Collective Decision-Making. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005762855