Subjective Probabilities on a State Space

Edi Karni

American Economic Journal: Microeconomics, 2011, vol. 3, issue 4, 172-85

Abstract: This paper extends the analytical framework of Karni (2011) to include a state space and advances a choice-based definition of subjective probabilities on this space. These probabilities represent the beliefs of Bayesian decision makers regarding the likelihoods of events, thus resolving a long-standing, fundamental difficulty with the definition of subjective probabilities. (JEL D81, D83)

JEL-codes: D81 D83 (search for similar items in EconPapers)
Date: 2011
Note: DOI: 10.1257/mic.3.4.172
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Citations: View citations in EconPapers (9)

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