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The uniqueness of local proper scoring rules: the logarithmic family

Jingni Yang ()
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Jingni Yang: Australian National University

Theory and Decision, 2020, vol. 88, issue 2, No 7, 315-322

Abstract: Abstract Local proper scoring rules provide convenient tools for measuring subjective probabilities. Savage (J Am Stat Assoc 66(336), 783–801, 1971) has shown that the only local proper scoring rule for more than two exclusive events is the logarithmic family. We generalize Savage (1971) by relaxing the properness and the domain, and provide simpler proof.

Keywords: Local proper scoring rules; Subjective probability; Incentive compatibility (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s11238-019-09727-2

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Handle: RePEc:kap:theord:v:88:y:2020:i:2:d:10.1007_s11238-019-09727-2