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…

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