Conditional hypothesis testing systems

IF 0.7 4区 经济学 Q3 ECONOMICS
Xiao Luo , Xuewen Qian
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引用次数: 0

Abstract

We introduce the notion of a Conditional Hypothesis Testing System (CHTS) that specifies the concrete mode of non-Bayesian reactions to unexpected news in a conditional world. We show that Ortoleva’s (2012) Hypothesis Testing Model (HTM) has an alternative CHTS representation, and thus Ortoleva’s axioms also characterize CHTS. We demonstrate the concept of CHTS can be used to derive the conditional-probability-system expected utility model of Myerson (1986a). In addition, we formulate and show that the CHTS updating rule is order independent—i.e., the order of receiving uncontradictory information never influences the final posterior under the updating rule in all conditioning events. Our study sheds light on the (coherent) dynamic structure of HTM in all conditional worlds.
条件假设检验系统
我们引入了条件假设检验系统(CHTS)的概念,该系统规定了在条件世界中对意外新闻的非贝叶斯反应的具体模式。我们发现Ortoleva(2012)的假设检验模型(HTM)具有另一种CHTS表示,因此Ortoleva的公理也表征了CHTS。我们证明了CHTS的概念可以用来推导Myerson (1986a)的条件-概率-系统期望实用模型。此外,我们提出并证明了CHTS的更新规则是顺序无关的。,在所有条件作用事件中,接收非矛盾信息的顺序对更新规则下的最终后验不产生影响。我们的研究揭示了HTM在所有条件世界中的(连贯的)动态结构。
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来源期刊
Journal of Mathematical Economics
Journal of Mathematical Economics 管理科学-数学跨学科应用
CiteScore
1.70
自引率
7.70%
发文量
73
审稿时长
12.5 weeks
期刊介绍: The primary objective of the Journal is to provide a forum for work in economic theory which expresses economic ideas using formal mathematical reasoning. For work to add to this primary objective, it is not sufficient that the mathematical reasoning be new and correct. The work must have real economic content. The economic ideas must be interesting and important. These ideas may pertain to any field of economics or any school of economic thought.
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