Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/150110
Authors: 
Epstein, Larry G.
Noor, Jawwad
Sandroni, Alvaro
Year of Publication: 
2008
Citation: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 3 [Year:] 2008 [Issue:] 2 [Pages:] 193-229
Abstract: 
This paper models an agent in a multi-period setting who does not update according to Bayes' Rule, and who is self-aware and anticipates her updating behavior when formulating plans. Choice-theoretic axiomatic foundations are provided to capture updating biases that reflect excessive weight given to either prior beliefs, or alternatively, to observed data. A counterpart of the exchangeable Bayesian learning model is also described.
Subjects: 
Non-Bayesian updating
temptation and self-control
overreaction
underreaction
learning
law of small numbers
JEL: 
D81
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0
Document Type: 
Article

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