Subjective Probabilities on a State Space
扩展了Karni(2011)的分析框架,引入状态空间,并基于选择定义了该空间上的主观概率,解决了主观概率定义中长期存在的根本难题。
This paper extends the analytical framework of Karni (2011) to include a state space and advances a choice-based definition of subjective probabilities on this space. These probabilities represent the beliefs of Bayesian decision makers regarding the likelihoods of events, thus resolving a long-standing, fundamental difficulty with the definition of subjective probabilities.