Revealed Bayesian Expected Utility with Limited Data

40 Pages Posted: 13 Mar 2019 Last revised: 25 May 2019

See all articles by John Rehbeck

John Rehbeck

Ohio State University (OSU) - Economics

Date Written: February 21, 2019

Abstract

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

Rehbeck, John, Revealed Bayesian Expected Utility with Limited Data (February 21, 2019). Available at SSRN: https://ssrn.com/abstract=3339507 or http://dx.doi.org/10.2139/ssrn.3339507

John Rehbeck (Contact Author)

Ohio State University (OSU) - Economics ( email )

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1945 N. High St.
Columbus, OH 43210-1172
United States

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