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A theory of Bayesian decision making with action-dependent subjective probabilities


  • Edi Karni



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Suggested Citation

  • Edi Karni, 2011. "A theory of Bayesian decision making with action-dependent subjective probabilities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(1), pages 125-146, September.
  • Handle: RePEc:spr:joecth:v:48:y:2011:i:1:p:125-146 DOI: 10.1007/s00199-010-0542-1

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    References listed on IDEAS

    1. Machina Mark J. & Schmeidler David, 1995. "Bayes without Bernoulli: Simple Conditions for Probabilistically Sophisticated Choice," Journal of Economic Theory, Elsevier, vol. 67(1), pages 106-128, October.
    2. Karni, Edi, 2006. "Subjective expected utility theory without states of the world," Journal of Mathematical Economics, Elsevier, vol. 42(3), pages 325-342, June.
    3. Wakker, Peter, 1987. "Subjective probabilities for state dependent continuous utility," Mathematical Social Sciences, Elsevier, vol. 14(3), pages 289-298, December.
    4. Machina, Mark J & Schmeidler, David, 1992. "A More Robust Definition of Subjective Probability," Econometrica, Econometric Society, vol. 60(4), pages 745-780, July.
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    Cited by:

    1. Edi Karni, 2011. "Subjective Probabilities on a State Space," American Economic Journal: Microeconomics, American Economic Association, vol. 3(4), pages 172-185, November.
    2. Dreze, J., 2015. "Subjective expected utility with state-dependent but action/observation-independent preferences," CORE Discussion Papers 2015044, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

    More about this item


    Bayesian decision making; Subjective probabilities; Prior distributions; Beliefs; D80; D81; D82;

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design


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