A Joint Characterization of Belief Revision Rules

Franz Dietrich, Christian List and Richard Bradley

MPRA Paper from University Library of Munich, Germany

Abstract: This paper characterizes different belief revision rules in a unified framework: Bayesian revision upon learning some event, Jeffrey revision upon learning new probabilities of some events, Adams revision upon learning some new conditional probabilities, and `dual-Jeffrey' revision upon learning an entire new conditional probability function. Though seemingly different, these revision rules follow from the same two principles: responsiveness, which requires that revised beliefs be consistent with the learning experience, and conservativeness, which requires that those beliefs of the agent on which the learning experience is `silent' (in a technical sense) do not change. So, the four revision rules apply the same revision policy, yet to different kinds of learning experience.

Keywords: Subjective probability; Bayes's rule; Jeffrey's rule; axiomatic foundations; unawareness (search for similar items in EconPapers)
JEL-codes: C00 D00 D80 D83 (search for similar items in EconPapers)
Date: 2012-09
New Economics Papers: this item is included in nep-mic
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https://mpra.ub.uni-muenchen.de/41240/1/MPRA_paper_41240.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/60107/1/MPRA_paper_60107.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/71304/1/MPRA_paper_71304.pdf revised version (application/pdf)

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