A subjective model of experimentation

• 成果类型: Article
• 署名作者: Hyogo, Kazuya
• 署名单位: University of Rochester
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2005.12.003
• 发表日期: 2007
• 页码: 316-330
• 关键词: Experimentation; preference for flexibility; subjective probability

摘要

Typically an experiment is defined by a set of possible signals and a likelihood function, and both are specified exogenously-they are taken to be observable by the analyst. This paper renders them subjective by showing that they may be derived from suitable choice behavior. This is done in the context of an axiomatic representation theorem for preference on a suitable domain. (c) 2005 Elsevier Inc. All rights reserved.