Universal Interactive Preferences
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TL;DR: This paper showed that a universal preference type space exists under more general conditions than those postulated by Epstein and Wang (1996), and showed that preferences can be encoded monotonically in rich enough ways by collections of continuous, monotone real-valued functionals over acts, which determine preferences over limit acts.
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Abstract: We prove that a universal preference type space exists under more general conditions than those postulated by Epstein and Wang (1996) . To wit, it suffices that preferences can be encoded monotonically in rich enough ways by collections of continuous, monotone real-valued functionals over acts, which determine — even in discontinuous fashion — the preferences over limit acts. The proof relies on a generalization of the method developed by Heifetz and Samet (1998a).
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Citations
Foundations Of Statistics
Jonas Schreiber
- 01 Jan 2016
TL;DR: The foundations of statistics is available in our book collection an online access to it is set as public so you can download it instantly.Thank you very much for downloading foundations ofStatistics.
1.8K
•Posted Content
Interdependent Preferences and Strategic Distinguishability
TL;DR: In this paper, a universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional preferences; and so on.
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Interdependent Preferences and Strategic Distinguishability
TL;DR: In this article, a universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional preferences; and so on
•Posted Content
Conditional Beliefs and Higher-Order Preferences
Byung Soo Lee
- 17 Jul 2013
TL;DR: This paper provided the Bayesian foundations of type structures for iterated admissibility in a setting in which beliefs are LPS's (lexicographic probability systems) rather than standard probability measures as in Mertens and Zamir (1985).
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•Proceedings Article
Universal Interactive Preferences.
Jayant V. Ganguli,Aviad Heifetz +1 more
- 01 Jan 2013
TL;DR: It is proved that a universal preference type space exists under much more general conditions than those postulated by [1] for a large class of preferences beyond [4], and it is enough that preferences can be encoded by a countable collection of continuous functionals.
5
References
•Book
Theory of Games and Economic Behavior
John von Neumann,Oskar Morgenstern +1 more
- 01 Jan 1944
TL;DR: Theory of games and economic behavior as mentioned in this paper is the classic work upon which modern-day game theory is based, and it has been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations.
Subjective probability and expected utility without additivity
TL;DR: In this paper, an axiom of comonotonic independence is introduced, which weakens the von Neumann-Morgenstern axiom for independence, and the expected utility of an act with respect to the nonadditive probability is computed using the Choquet integral.
Games with Incomplete Information Played by Bayesian Players, I-III
TL;DR: The paper develops a new theory for the analysis of games with incomplete information where the players are uncertain about some important parameters of the game situation, such as the payoff functions, the strategies available to various players, the information other players have about the game, etc.
Foundations Of Statistics
Jonas Schreiber
- 01 Jan 2016
TL;DR: The foundations of statistics is available in our book collection an online access to it is set as public so you can download it instantly.Thank you very much for downloading foundations ofStatistics.
1.8K