This paper offers two characterizations of the Kreps-Wilson concept of consistent beliefs. One is primarily of applied interest: beliefs are consistent iff they can be constructed by multiplying together vectors of monomials which induce the strategies. The other is primarily of conceptual...

A "dispersion" specifies the relative probability between any two elements of a finite domain. It thereby partitions the domain into equivalence classes separated by infinite relative probability. The paper's novelty is to numerically represent not only the order of the equivalence classes, but...