Economic modeling assumes, for the most part, that agents are Bayesian, that is, that they entertain probabilistic beliefs, objective or subjective, regarding any event in question. We argue that the formation of such beliefs calls for a deeper examination and for explicit modeling. Models of...

Some frameworks of model uncertainty combine a large number of densities. Computing the quantiles of the combined distribution might be practically infeasible when the number of densities is large. We introduce a numerical procedure that can reduce the computational burden. This consists of...