Similarity of differential information with subjective prior beliefs

B-Tier
Journal: Journal of Mathematical Economics
Year: 2008
Volume: 44
Issue: 9-10
Pages: 1024-1039

Score contribution per author:

0.503 = (α=2.01 / 4 authors) × 1.0x B-tier

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

Abstract

We present a complete, separable and metrizable topology on the product space of information and (subjective) beliefs. Such a topology formalizes similarity of differential information without the assumption of a common prior, but under the assumption that objectively impossible events are considered impossible by subjective beliefs. As an application to the theory of the consumer, we provide results on the continuity of expected utility and demand functions. We also provide continuity results for the value of information and the insurance premium as defined in the literature.

Technical Details

RePEc Handle
repec:eee:mateco:v:44:y:2008:i:9-10:p:1024-1039
Journal Field
Theory
Author Count
4
Added to Database
2026-01-25