Dynamic awareness and zero probability beliefs

John Quiggin

Theory and Decision, 2017, vol. 83, issue 3, No 1, 309-313

Abstract: Abstract In this note, it is shown that in a Bayesian model with unawareness of impossible (probability zero), or vanishingly improbable, events, awareness can only change after such an improbable event has actually been observed.

Keywords: Unawareness; Zero probability events (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/s11238-016-9580-x

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