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A theory of subjective learning Dillenberger, D Lleras, JS Sadowski, Philipp Takeoka, N 2016-12-01T22:11:23Z 2014-01-01
dc.identifier.issn 0022-0531
dc.description.abstract We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of preferences over menus of acts. One representation uniquely identifies information as a probability measure over posteriors and the other identifies information as a partition of the state space. We compare individuals who expect to learn differently in terms of their preference for flexibility. On the extended domain of dated-menus, we show how to accommodate gradual learning over time by means of a subjective filtration. © 2014 Elsevier Inc.
dc.relation.ispartof Journal of Economic Theory
dc.relation.isversionof 10.1016/j.jet.2014.07.003
dc.title A theory of subjective learning
dc.type Journal article
pubs.begin-page 287
pubs.end-page 312
pubs.issue 1
pubs.organisational-group Duke
pubs.organisational-group Economics
pubs.organisational-group Trinity College of Arts & Sciences
pubs.publication-status Published
pubs.volume 153
dc.identifier.eissn 1095-7235

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