SYMMETRY , AMBIGUITY AND FREQUENCIES

@inproceedings{Seo2009SYMMETRYA,
  title={SYMMETRY , AMBIGUITY AND FREQUENCIES},
  author={Larry G. Epstein Kyoungwon Seo},
  year={2009}
}
We model a decision-maker who is facing a sequence of experiments, and whose perception is that outcomes are in‡uenced by two factors one that is well understood and …xed across experiments, and the other that is poorly understood and thought to be unrelated across experiments (the “error term”). Consequently, there is incomplete con…dence that experiments are identical. We argue that a Bayesian model cannot capture the above, but that belief function utility can. Our formal contribution is to… CONTINUE READING

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