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Abstract. We define and discuss Savage games, which are ordinal games that are set in L. J. Savage’s framework of purely subjective uncertainty. Every Bayesian game is ordinally equivalent to a Savage game. However, Savage games are free of priors, prob- abilities and payoffs. Players’...
Persistent link: https://www.econbiz.de/10010879332
We define and discuss Savage games, which are ordinal games of incomplete information set in L. J. Savage's framework of purely subjective uncertainty. Every Bayesian game is ordinally equivalent to a Savage game. However, Savage games are free of priors, probabilities and payoffs. Players'...
Persistent link: https://www.econbiz.de/10011599580
Persistent link: https://www.econbiz.de/10011500722
Persistent link: https://www.econbiz.de/10011341474
Persistent link: https://www.econbiz.de/10009772852
We propose a model of learning when experimentation is possible, but unawareness and ambiguity matter. In this model, complete lack of information regarding the underlying data generating process is expressed as a (maximal) family of priors. These priors yield posterior inferences that become...
Persistent link: https://www.econbiz.de/10012928769
We define and discuss Savage games, which are ordinal games of incomplete information set in L. J. Savage's framework of purely subjective uncertainty. Every Bayesian game is ordinally equivalent to a Savage game. However, Savage games are free of priors, probabilities and payoffs. Players'...
Persistent link: https://www.econbiz.de/10011671983
Persistent link: https://www.econbiz.de/10011649261
We define and discuss Savage games, which are ordinal games of incomplete information set in L. J. Savage's framework of purely subjective uncertainty. Every Bayesian game is ordinally equivalent to a Savage game. However, Savage games are free of priors, probabilities and payoffs. Players'...
Persistent link: https://www.econbiz.de/10013063668
Persistent link: https://www.econbiz.de/10013442060