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... To formalize these intuitions, Gärdenfors characterizes a (probabilistic) epistemic state using the possible worlds model. At any given time, an agent is assumed to consider a number of worlds (or states of the world) possible. For example, if the agent looks out the window and notices that it is r ...
... To formalize these intuitions, Gärdenfors characterizes a (probabilistic) epistemic state using the possible worlds model. At any given time, an agent is assumed to consider a number of worlds (or states of the world) possible. For example, if the agent looks out the window and notices that it is r ...
Disclosure and Choice 1 Elchanan Ben-Porath Eddie Dekel
... low as 50% of the first–best payoff but cannot be any lower. In the next section, we illustrate the basic ideas with a simple example. In Section 3, we give an overview of the most general version of the model. As we show in Section 6, the analysis of the general version can be reduced to the speci ...
... low as 50% of the first–best payoff but cannot be any lower. In the next section, we illustrate the basic ideas with a simple example. In Section 3, we give an overview of the most general version of the model. As we show in Section 6, the analysis of the general version can be reduced to the speci ...