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Similarity of differential information with subjective prior beliefs

Khan, M Ali; Sun, Yeneng; Tourky, Rabee; Zhang, Zhixiang

Description

We present a complete, separable and metrizable topology on the product space of information and (subjective) beliefs. Such a topology formalizes similarity of differential information without the assumption of a common prior, but under the assumption that objectively impossible events are considered impossible by subjective beliefs. As an application to the theory of the consumer, we provide results on the continuity of expected utility and demand functions. We also provide continuity results...[Show more]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
URI: http://hdl.handle.net/1885/32825
Source: Journal of Mathematical Economics
DOI: 10.1016/j.jmateco.2007.06.007

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