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Showing 1 to 2 of 2 for “"Non Bayesian Updating"”.
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Redundant Information And Predictable Stock Price Returns
… I extend the Kyle (1985) model to allow for non-Bayesian updating and transaction costs. The model predicts that price changes exhibit a state space process, in which the parameter for investors’ non- Bayesian weighting of redundant information is estimable distinctly from information …
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Three papers on belief updating and its applications
The normative foundation (axioms) of Bayesian belief updating has long been established in the literature of decision science. However, psychology and experiments suggest that while rational decision making is ideal, it is rarely achievable for ordinary people. Therefore, it is important to explore …