Weakly-Bayesian and Consistent Assessments
University of New South Wales (UNSW)
October 15, 2011
UNSW Australian School of Business Research Paper No. 2012-02
A weakly-Bayesian assessment is computed applying Bayes rule at positive probability information sets. We characterize the set of extensive-forms for which the sets of weakly-Bayesian and consistent assessments coincide. In doing so we disentangle the different restrictions imposed by consistency across information sets. We apply this knowledge to strengthen weakly-Bayesian assessments and to derive conditions for equivalence with consistency that can be useful in economic applications.
Number of Pages in PDF File: 34
Keywords: Weakly-Bayesian assessments, Consistent assessments, Sequential equilibrium, Extensive-forms
JEL Classification: C62, C72, D80working papers series
Date posted: January 13, 2012
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