A Theory of Bayesian Decision Making

Research, Preprint OPEN
Edi Karni;
(2009)
  • Publisher: Baltimore, MD: The Johns Hopkins University, Department of Economics
  • Subject: Bayesian decision making | subjective probabilities | prior distributions | D81 | D80 | beliefs | D82
    • ddc: ddc:330
    arxiv: Statistics::Computation

This paper presents a complete, choice-based, axiomatic Bayesian decision theory. It introduces a new choice set consisting of information-contingent plans for choosing actions and bets and subjective expected utility model with effect-dependent utility functions and ac... View more
  • References (3)

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    [12] Mirrlees, J. 1976. The optimal structure of authority and incentives within an organization. The Bell J. of Economics 7, 105-113.

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