Looking Backwards, Looking Inwards: Priors and Introspection
The three notions studied here are Bayesian priors, invariant priors and introspection. A prior for an agent is Bayesian, if it agrees with the agent's posterior beliefs when conditioned on them. A prior is invariant, if it is the average, with respect to itself, of the posterior beliefs. Finally, an agent is introspective, if he is certain of his own beliefs. We show that a prior is Bayesian, if and only if it is invariant, and the agent is almost surely introspective. We show how to edogenize priors, and how to express the events that an agent has a Bayesian or invariant prior. Finally, we study properties of the endogenized common prior.
|Date of creation:||15 Oct 1996|
|Date of revision:|
|Note:||Type of Document - Postscript ; prepared on Unix; pages: 13|
|Contact details of provider:|| Web page: http://22.214.171.124|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Heifetz, Aviad & Samet, Dov, 1998.
"Topology-Free Typology of Beliefs,"
Journal of Economic Theory,
Elsevier, vol. 82(2), pages 324-341, October.
- Robert J. Aumann, 1999. "Interactive epistemology I: Knowledge," International Journal of Game Theory, Springer, vol. 28(3), pages 263-300.
- Harsanyi, John C., 1994.
"Games with Incomplete Information,"
Nobel Prize in Economics documents
1994-1, Nobel Prize Committee.
- Dov Samet, 1996. "Common Priors and Markov Chains," Game Theory and Information 9610008, EconWPA.
- Monderer, Dov & Samet, Dov, 1989. "Approximating common knowledge with common beliefs," Games and Economic Behavior, Elsevier, vol. 1(2), pages 170-190, June.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpga:9610007. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.