This work examines then computational cost of processing the information required by Bayesian updating of beliefs. The standard statistical approach adopted by economists, restricted to the exponential family, ignores these computational aspects. To fill this lacuna, two models of probabilistic...

This work examines then computational cost of processing the information required by Bayesian updating of beliefs. The standard statistical approach adopted by economists, restricted to the exponential family, ignores thesecomputational aspects. To fill this lacuna, two models of...