rational expectations paradigm and are also not in line with the predictions of the rational Bayesian learning paradigm. We … therefore introduce a model of Bayesian learning which combines rational learning with the possibility that the interpretation …

This paper develops and estimates a closed-form model of Bayesian learning of subjective survival beliefs within the … framework of Choquet decision theory. Data from the Health and Retirement Study (HRS) indicate that, on average, young … Bayesian learning paradigm which implies convergence of subjective to underlying 'objective' probabilities. Based on the …

This paper develops and estimates a closed-form model of Bayesian learning of subjective survival beliefs within the … framework of Choquet decision theory. Data from the Health and Retirement Study (HRS) indicate that, on average, young … Bayesian learning paradigm which implies convergence of subjective to underlying 'objective' probabilities. Based on the …