Rationality and the Bayesian paradigm

  • Gilboa I
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It is argued that, contrary to a rather prevalent view within economic theory, rationality does not imply Bayesianism. The note begins by defining these terms and justifying the choice of these definitions, proceeds to survey the main justification for this prevalent view, and concludes by highlighting its weaknesses.

Author-supplied keywords

  • probability
  • rationality
  • reasoning

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  • Itzhak Gilboa

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