Reverse Bayesianism: revising beliefs in light of unforeseen events

Bayesian Updating is the dominant theory of learning in economics. The theory is silent about how individuals react to events that were previously unforeseeable or unforeseen. Recent theoretical literature has put forth axiomatic frameworks to analyze the unknown. In particular, we test if subjects...

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Bibliographic Details

Main Authors:	Becker, Christoph (Author) , Melkonyan, Tigran A. (Author) , Proto, Eugenio (Author) , Sofianos, Andis (Author) , Trautmann, Stefan T. (Author)
Format:	Book/Monograph Working Paper
Language:	English
Published:	Munich, Germany CESifo, Center for Economic Studies & Ifo Institute October 2020
Series:	CESifo working paper no. 8662 (2020)
In:	CESifo working papers (no. 8662 (2020))
Subjects:	Graue Literatur
Online Access:	Verlag, kostenfrei: https://www.cesifo.org/DocDL/cesifo1_wp8662.pdf Verlag, kostenfrei: https://www.cesifo.org/en/publikationen/2020/working-paper/reverse-bayesianism-revising-beliefs-light-unforeseen-events Resolving-System, kostenfrei: http://hdl.handle.net/10419/229480
Author Notes:	Christoph K. Becker, Tigran Melkonyan, Eugenio Proto, Andis Sofianos, Stefan T. Trautmann