Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper extends the analytical framework of Karni (2011) to include a state space and advances a choice-based definition of subjective probabilities on this space. These probabilities represent the beliefs of Bayesian decision makers regarding the likelihoods of events, thus resolving a long-standing, fundamental difficulty with the definition of subjective probabilities. (JEL D81, D83)