We propose a logic based on three modal operators, representing initial beliefs, information and revised beliefs. Three simple and transparent axioms are used to provide a sound and complete axiomatization of the qualitative part of Bayes' rule. Some theorems of this logic are derived concerning the interaction between current beliefs and future beliefs. Information flows and iterated revision are also discussed.
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Paper provided by University of California at Davis, Department of Economics in its series Working Papers with number
04-5.