English, Article, Journal or magazine article edition: SYMMETRY OR DYNAMIC CONSISTENCY? Larry G. Epstein; Kyoungwon Seo

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Bookmark: http://trove.nla.gov.au/version/120507
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • SYMMETRY OR DYNAMIC CONSISTENCY?
Author
  • Larry G. Epstein
  • Kyoungwon Seo
Physical Description
  • preprint
Notes
  • In a setting with repeated experiments, where evidence about the experiments is symmetric, a decision-maker ranks bets (or acts) over their outcomes. We describe a stark modeling trade-off between symmetry of preference (indifference to permutations), dynamic consistency and ambiguity. Then, assuming that experiments are ordered in time, we outline an axiomatic model of preference that exhibits dynamic consistency and yet models learning by an agent who is not certain that experiments are identical.
  • RePEc:bos:wpaper:wp2009-004
Language
  • English
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