Identifying subjective beliefs in subjective state space models

Pablo Schenone

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

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.

Original languageEnglish (US)
Pages (from-to)59-72
Number of pages14
JournalGames and Economic Behavior
Volume95
DOIs
StatePublished - Jan 1 2016

Fingerprint

Subjective state space
State-space model
Utility function

Keywords

  • Decision theory
  • Menu choice
  • Subjective states

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

Cite this

Identifying subjective beliefs in subjective state space models. / Schenone, Pablo.

In: Games and Economic Behavior, Vol. 95, 01.01.2016, p. 59-72.

Research output: Contribution to journalArticle

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