Unknowable states and choice-based definitions of subjective probabilities

C-Tier
Journal: Economics Letters
Year: 2008
Volume: 99
Issue: 3
Pages: 534-536

Score contribution per author:

1.005 = (α=2.01 / 1 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper exposes a difficulty in applying the revealed preference methodology to the definition of subjective probabilities. It shows that in the presence of unknowable states it is impossible to provide choice-based foundations of prior probabilities in Bayes' theory.

Technical Details

RePEc Handle
repec:eee:ecolet:v:99:y:2008:i:3:p:534-536
Journal Field
General
Author Count
1
Added to Database
2026-01-25