Inertial Updating
Speaker: Dr Matthew Kovach
Affiliation: Virginia Tech.
Online via Zoom: https://uqz.zoom.us/j/84008636651
Abstract
We introduce and characterize inertial updating of beliefs. Under inertial updating, a decision maker (DM) chooses a belief that minimizes the subjective distance between their prior belief and the set of beliefs consistent with the observed event. Importantly, by varying the subjective notion of distance, inertial updating provides a unifying framework that nests three different types of belief updating: (i) Bayesian updating, (ii) non-Bayesian updating rules, and (iii) updating rules for events with zero probability, including the conditional probability system (CPS) of Myerson (1986a,b). We demonstrate that our model is behaviorally equivalent to the Hypothesis Testing model (HT) of Ortoleva (2012), clarifying the connection between HT and CPS. We apply our model to a persuasion game.
About the presenter's meeting
If you would like to meet with Dr Kovach, please contact: Dr Zachary Breig
About Centre for Unified Behavioural and Economic Sciences (CUBES) e-seminars
An online seminar series on Experimental and Behavioural Economics organized by the Centre for Unified Behavioural and Economic Sciences (CUBES) of the School of Economics at The University of Queensland.
Our seminars take place fortnightly via Zoom on Wednesdays at 10 am or 5 pm (AEST), depending on whether the guest speaker is streaming from US/Australia or Europe respectively.
Seminars consist of a 60-minute presentation followed by 15 minutes of Q&A.
Local time for seminars
You can check the corresponding times for your own time zone using the following links for each session: 10am, 5pm.
How to register
Clicking the button below gives you the option to register for: (i) all seminars (ii) seminars that take place at 10am or 5pm, or (iii) individual seminars.
Email invitations with a ZOOM link to the event will be sent 48 hours before each seminar.
If you wish to attend an upcoming seminar within the 48-hour window, please drop an email to Lionel Page.
