Objective Subjective Probabilities
AbstractThis note shows that if the space of events is sufficiently rich and the subjective probability function of each individual is non-atomic, then there is a sigma-algebra of events over which everyone will have the same probability function, and moreover, the range of these probabilities is the whole [0, 1] segment.
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Bibliographic InfoPaper provided by Boston College Department of Economics in its series Boston College Working Papers in Economics with number 616.
Length: 6 pages
Date of creation: 02 Aug 2005
Date of revision: 07 Dec 2005
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Other versions of this item:
- NEP-ALL-2005-08-03 (All new papers)
- NEP-ECM-2005-08-03 (Econometrics)
- NEP-HPE-2005-08-03 (History & Philosophy of Economics)
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- Mark Machina, 2004. "Almost-objective uncertainty," Economic Theory, Springer, vol. 24(1), pages 1-54, 07.
- Edi Karni & Zvi Safra, 2002. "Individual Sense of Justice: A Utility Representation," Econometrica, Econometric Society, vol. 70(1), pages 263-284, January.
- Epstein, Larry G & Segal, Uzi, 1992. "Quadratic Social Welfare Functions," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 691-712, August.
- Zvi Safra & Uzi Segal, 2005. "Are Universal Preferences Possible? Calibration Results for Non-Expected Utility Theories," Boston College Working Papers in Economics 633, Boston College Department of Economics.
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