Are beliefs a matter of taste? A case for objective imprecise information
AbstractWe argue, in the spirit of some of Jean-Yves Jaffray's work, that explicitly incorporating the information, however imprecise, available to the decision marker is relevant, feasible and fruitful. In particular, we show that it can lead us to know whether the decision maker has wrong beliefs and whether it matters or not, that it makes it possible to better model and analyze how the decision maker takes into account new information, even when this information is not an event and finally that it is crucial when attempting to identify and measure the decision maker's attitude toward imprecise information.
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Bibliographic InfoArticle provided by Springer in its journal Theory and Decision.
Volume (Year): 71 (2011)
Issue (Month): 1 (July)
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Web page: http://www.springerlink.com/link.asp?id=100341
Decision under uncertainy; Objective Information; Belief Formation; Methodology of Decision Theory; B41; D80;
Other versions of this item:
- Raphaël Giraud & Jean-Marc Tallon, 2009. "Are beliefs a matter of taste ? A case for objective imprecise information," Documents de travail du Centre d'Economie de la Sorbonne 09086, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
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