Updating variational (Bewley) preferences

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dc.contributor.authorJOSÉ HELENO FARO
dc.contributor.authorSantos, Ana
dc.coverage.cidadeNew Yorkpt_BR
dc.coverage.paisEstados Unidospt_BR
dc.creatorSantos, Ana
dc.date.accessioned2022-12-17T12:26:20Z
dc.date.available2022-12-17T12:26:20Z
dc.date.issued2021
dc.description.notesTexto completopt_BR
dc.description.otherThis paper investigates dynamically consistent updates of weighted unanimity rules given by variational Bewley preferences (VBP), a class of incomplete preferences characterized by pairs of utility index over consequences and ambiguity index over priors. We show that these dynamically consistent updates are also VBP that preserves the same ranking over consequences and feature conditional ambiguity index obtained through the full Bayesian update of the unconditional one. Moreover, we study conditional forced-choice relations, which capture choices that a decision-maker must take after learning some event. Formally, they are monotone continuous weak orders. We show that any conditional forced-choice relation that preserves the ambiguity attitude of a given unconditional VBP has a variational representation with the same affine utility function over consequences and the ambiguity index of its corresponding dynamically consistent update. Thus, our result provides a novel foundation for full Bayesian updating of variational preferences.pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.doihttps://doi.org/10.1007/s00199-021-01397-ypt_BR
dc.identifier.issn1432-0479pt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/5026
dc.language.isoInglêspt_BR
dc.publisherSpringerpt_BR
dc.relation.isboundProdução vinculada ao Núcleo de Ciências de Dados e Decisão
dc.relation.ispartofEconomic Theorypt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DO USUÁRIO VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITOR.pt_BR
dc.subject.keywordsDynamic consistencypt_BR
dc.subject.keywordsfull Bayesian updatept_BR
dc.subject.keywordsforced choicespt_BR
dc.subject.keywordsincomplete preferencespt_BR
dc.subject.keywordsvariational Bewley preferencespt_BR
dc.subject.keywordsvariational preferencespt_BR
dc.titleUpdating variational (Bewley) preferencespt_BR
dc.typejournal article
dspace.entity.typePublication
local.identifier.sourceUrihttps://link.springer.com/article/10.1007/s00199-021-01397-y
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeArtigo Científicopt_BR
relation.isAuthorOfPublication6f68f2a4-9e10-4c94-a5e8-62ba771c81d7
relation.isAuthorOfPublication.latestForDiscovery6f68f2a4-9e10-4c94-a5e8-62ba771c81d7

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