We study the updating of beliefs under ambiguity for invariant biseparable preferences. In particular, we show that a natural form of dynamic consistency characterizes the Bayesian updating of these beliefs.
Revealed ambiguity and its consequences: updating
Ghirardato, Paolo
;Maccheroni, Fabio;Marinacci, Massimo
2008
Abstract
We study the updating of beliefs under ambiguity for invariant biseparable preferences. In particular, we show that a natural form of dynamic consistency characterizes the Bayesian updating of these beliefs.
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