EconPapers    
Economics at your fingertips  
 

Unknowable states and choice-based definitions of subjective probabilities

Edi Karni

Economics Letters, 2008, vol. 99, issue 3, 534-536

Abstract: This paper exposes a difficulty in applying the revealed preference methodology to the definition of subjective probabilities. It shows that in the presence of unknowable states it is impossible to provide choice-based foundations of prior probabilities in Bayes' theory.

Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165-1765(07)00371-0
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:99:y:2008:i:3:p:534-536

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-08-20
Handle: RePEc:eee:ecolet:v:99:y:2008:i:3:p:534-536