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Inertial Updating with General Information

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  • Adam Dominiak
  • Matthew Kovach
  • Gerelt Tserenjigmid

Abstract

We study belief revision when information is represented by a set of probability distributions, or general information. General information extends the standard event notion while including qualitative information (A is more likely than B), interval information (A has a ten-to-twenty percent chance), and more. We behaviorally characterize Inertial Updating: the decision maker's posterior is of minimal subjective distance from her prior, given the information constraint. Further, we introduce and characterize a notion of Bayesian updating for general information and show that Bayesian agents may disagree. We also behaviorally characterize f-divergences, the class of distances consistent with Bayesian updating.

Suggested Citation

  • Adam Dominiak & Matthew Kovach & Gerelt Tserenjigmid, 2025. "Inertial Updating with General Information," Papers 2502.00958, arXiv.org.
    • Handle: RePEc:arx:papers:2502.00958
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    File URL: http://arxiv.org/pdf/2502.00958
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