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Are Beliefs a Matter of Taste ? A case for Objective Imprecise Information

  • Raphaël Giraud

    ()

    (CRESE - Centre de Recherche sur les Stratégies Economiques)

  • Jean-Marc Tallon

    ()

    (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Paris I - Panthéon-Sorbonne, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)

We 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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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00442869.

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Date of creation: Dec 2009
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Handle: RePEc:hal:cesptp:halshs-00442869
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00442869
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