Bayesian information topologies (Q922258)

From MaRDI portal
Revision as of 11:12, 7 July 2023 by Importer (talk | contribs) (‎Created a new Item)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
scientific article
Language Label Description Also known as
English
Bayesian information topologies
scientific article

    Statements

    Bayesian information topologies (English)
    0 references
    1990
    0 references
    A state of the world \(\omega\) is drawn to some known prior distribution, \(\mu\). Agents receive their information about \(\omega\) and form their posterior distributions, \(P_{\omega}\), by conditioning on the sub- \(\sigma\)-fields that represent their information. The mapping \(\omega \mapsto P_{\omega}\) contains all of the economically relevant aspects of an agent's information. `Bayesian' topologies on these mappings are defined by saying that information structures are close if there is only small probability that the posterior distributions are far apart. This approach leads to a characterization of the relation between partition representations of information and \(\sigma\)-field representations of information.
    0 references
    sigma-fields
    0 references
    `Bayesian' topologies
    0 references
    information structures
    0 references
    \(\sigma \) - field representations of information
    0 references

    Identifiers