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Beliefs and Dynamic Consistency

By Jean-marc Tallon and Jean-christophe Vergnaud

Abstract

In this chapter, we adopt the decision theoretic approach to the representation and updating of beliefs. The standard bayesian approach, as developed by Savage (1954), provides the conditions under which a decision maker whose preferences satisfy a certain number of “rationality ” axioms (among which the famous “sur

Year: 2003
OAI identifier: oai:CiteSeerX.psu:10.1.1.320.5764
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