Identifying subjective beliefs in subjective state space models

• 成果类型: Article
• 署名作者: Schenone, Pablo
• 署名单位: Arizona State University; Arizona State University-Tempe
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2015.12.007
• 发表日期: 2016
• 页码: 59-72
• 关键词: subjective states; menu choice; decision theory

摘要

This paper takes the Dekel, Lipman, and Rustichini (2001) framework, in which subjective beliefs over subjective states cannot be identified, and proves a conjecture made in their paper: if the Bernoulli utility functions are additively separable and one of the terms is state-independent, then beliefs are uniquely identified. The main departure from existing literature is that beliefs are identified without imposing extra objective elements into the model. (C) 2016 Elsevier Inc. All rights reserved.