An elementary proof that additive i-likelihood characterizes the supports of consistent assessments

Peter Streufert

Journal of Mathematical Economics, 2015, vol. 59, issue C, 37-46

Abstract: I prove a convenient reformulation of Kreps and Wilson (1982, Lemma A1), whose proof has a nontrivial gap. Essentially, the support of a consistent assessment is characterized by the additive representability of the infinite-relative-likelihood relation that the support implies. My proof is unexpectedly elementary, for it relies solely on a classic result about additive representation, which in turn relies solely on Farkas’ Lemma.

Keywords: Infinite relative likelihood; I-likelihood; Additive representation; Consistency (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:59:y:2015:i:c:p:37-46

DOI: 10.1016/j.jmateco.2015.03.003

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