Non-Bayesian Learning in Misspecified Models

Fuente: arXiv
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Auteurs principaux: Bervoets, Sebastian, Faure, Mathieu, Renou, Ludovic
Format: Preprint
Publié: 2025
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author Bervoets, Sebastian
Faure, Mathieu
Renou, Ludovic
author_facet Bervoets, Sebastian
Faure, Mathieu
Renou, Ludovic
contents Deviations from Bayesian updating are traditionally categorized as biases, errors, or fallacies, thus implying their inherent ``sub-optimality.'' We offer a more nuanced view. We demonstrate that, in learning problems with misspecified models, non-Bayesian updating can outperform Bayesian updating.
format Preprint
id arxiv_https___arxiv_org_abs_2503_18024
institution arXiv
publishDate 2025
record_format arxiv
spellingShingle Non-Bayesian Learning in Misspecified Models
Bervoets, Sebastian
Faure, Mathieu
Renou, Ludovic
Theoretical Economics
Statistics Theory
Deviations from Bayesian updating are traditionally categorized as biases, errors, or fallacies, thus implying their inherent ``sub-optimality.'' We offer a more nuanced view. We demonstrate that, in learning problems with misspecified models, non-Bayesian updating can outperform Bayesian updating.
title Non-Bayesian Learning in Misspecified Models
topic Theoretical Economics
Statistics Theory
url https://arxiv.org/abs/2503.18024