Inertial Updating with General Information
Fuente:
arXiv
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| Auteurs principaux: | , , |
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| Format: | Preprint |
| Publié: |
2025
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| _version_ | 1866929695238389760 |
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| author | Dominiak, Adam Kovach, Matthew Tserenjigmid, Gerelt |
| author_facet | Dominiak, Adam Kovach, Matthew Tserenjigmid, Gerelt |
| contents | 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. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2502_00958 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Inertial Updating with General Information Dominiak, Adam Kovach, Matthew Tserenjigmid, Gerelt Theoretical Economics 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. |
| title | Inertial Updating with General Information |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2502.00958 |