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A theory of Bayesian decision making with action-dependent subjective probabilities

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  • Edi Karni

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  • Edi Karni, 2011. "A theory of Bayesian decision making with action-dependent subjective probabilities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(1), pages 125-146, September.
    • Handle: RePEc:spr:joecth:v:48:y:2011:i:1:p:125-146
    DOI: 10.1007/s00199-010-0542-1
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    References listed on IDEAS

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    1. Machina Mark J. & Schmeidler David, 1995. "Bayes without Bernoulli: Simple Conditions for Probabilistically Sophisticated Choice," Journal of Economic Theory, Elsevier, vol. 67(1), pages 106-128, October.
    2. Karni, Edi, 2006. "Subjective expected utility theory without states of the world," Journal of Mathematical Economics, Elsevier, vol. 42(3), pages 325-342, June.
    3. James A. Mirrlees, 1976. "The Optimal Structure of Incentives and Authority Within an Organization," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 105-131, Spring.
    4. Wakker, Peter, 1987. "Subjective probabilities for state dependent continuous utility," Mathematical Social Sciences, Elsevier, vol. 14(3), pages 289-298, December.
    5. Machina, Mark J & Schmeidler, David, 1992. "A More Robust Definition of Subjective Probability," Econometrica, Econometric Society, vol. 60(4), pages 745-780, July.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Jacques H. Drèze, 2018. "Subjective Expected Utility with State-Dependent but Action/Observation-Independent Preferences," Risks, MDPI, vol. 6(2), pages 1-9, March.
    2. Chen, Zengjing & Epstein, Larry G. & Zhang, Guodong, 2023. "A central limit theorem, loss aversion and multi-armed bandits," Journal of Economic Theory, Elsevier, vol. 209(C).
    3. Edi Karni, 2011. "Subjective Probabilities on a State Space," American Economic Journal: Microeconomics, American Economic Association, vol. 3(4), pages 172-185, November.
    4. Erio Castagnoli & Giacomo Cattelan & Fabio Maccheroni & Claudio Tebaldi & Ruodu Wang, 2021. "Star-shaped Risk Measures," Papers 2103.15790, arXiv.org, revised Apr 2022.

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    More about this item

    Keywords

    Bayesian decision making; Subjective probabilities; Prior distributions; Beliefs; D80; D81; D82;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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