Information, Knowledge and Belief

Giacomo Bonanno ()

Bulletin of Economic Research, 2002, vol. 54, issue 1, 47-67

Abstract: The paper models information as possibilities consistent with signals received from the environment. Knowledge is obtained by reasoning about the signals received as well as those that might have been received but were not. The term "knowledge" is used to refer to those beliefs that are obtained by reasoning about the available information, and nothing else. That is, one ought to be able to fully justify what one knows by means of the information that is available. The term "belief" is used to refer to those beliefs that are based on information but not necessarily only on information. The author investigates the relationship between information, knowledge and belief, as well as the issue of updating knowledge and belief in response to changes in information. Copyright 2002 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 2002
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