Consistent Bayesian aggregation
Article Abstract:
Bayesian aggregation is analyzed under such limitations as its identity with a subjective probability or a Savagean ordering and its consistency with the Pareto principle. The aggregation problem is shown to be solvable only through the implementation of affine rules, particularly with regards to nonatomic probabilities. When the Pareto principle happens to be strong relative to other conditions, no solution appears to be valid.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1995
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Consistent high-frequency calibration
Article Abstract:
The effectiveness economic models are examined in the light of the modelEs ability to simulate the observed subject. A suggestion to reduce the length of the intervals in order to bring about greater efficiency to the method is put forward.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004
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