Development Reports, to include not only consumption, but also education, leisure, the stock of knowledge and the quality of the … hand, the stock of knowledge is twice as large, and education is four times as large. So if the “true” social welfare index … towards less intensive ones, like knowledge, education, and leisure. …

Morris (1996, 1997) introduced preference-based definitions of knowledge of belief in standard state-space structures … defining unawareness and knowledge in terms of preferences over acts in unawareness structures and showing their equivalence to … the epistemic notions of unawareness and knowledge, we try to build a bridge between decision theory and epistemic logic …

among several individuals and strong properties of knowledge. We show that this generalized state-space model arises …