Revealed Bayesian Expected Utility with Limited Data
40 Pages Posted: 13 Mar 2019 Last revised: 25 May 2019
Date Written: February 21, 2019
This paper characterizes expected utility preferences with information acquisition and Bayesian updating using stochastic choice data that is not state-dependent. This contrasts with current research which uses state-dependent stochastic choice datasets. This is useful since it may be difficult to obtain state-dependent stochastic choice data outside of the laboratory setting.
Keywords: Limited Data, Bayesian Updating, Information Acquisition, Revealed Preference
JEL Classification: D01, D80
Suggested Citation: Suggested Citation