Savage-Bayesian Models of Economics
Kiefer, N., & Nyarko, Y. “Savage-Bayesian Models of Economics.” Essays in learning and rationality in economics and games, Basil Blackwell, 40-62, 1995.
The “state of the art” in learning models in economics is highly unsettled. On the one hand, we have the optimizing models in which learning occurs as a byproduct…