Probabilities as similarity-weighted frequencies

Antoine Billot; Itzhak Gilboa; Dov Samet; David Schmeidler

doi:10.1111/j.1468-0262.2005.00611.x

Probabilities as similarity-weighted frequencies

Antoine Billot^*, Itzhak Gilboa, Dov Samet, David Schmeidler

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the belief formation process follows a simple formula: beliefs are a similarity-weighted average of the beliefs induced by each past case.

Original language	English
Pages (from-to)	1125-1136
Number of pages	12
Journal	Econometrica
Volume	73
Issue number	4
DOIs	https://doi.org/10.1111/j.1468-0262.2005.00611.x
State	Published - Jul 2005

Keywords

Case-based reasoning
Probability
Relative frequencies
Similarity

Access to Document

10.1111/j.1468-0262.2005.00611.x

Cite this

@article{18fdd406f7394de1b674138ece253a75,

title = "Probabilities as similarity-weighted frequencies",

abstract = "A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the belief formation process follows a simple formula: beliefs are a similarity-weighted average of the beliefs induced by each past case.",

keywords = "Case-based reasoning, Probability, Relative frequencies, Similarity",

author = "Antoine Billot and Itzhak Gilboa and Dov Samet and David Schmeidler",

year = "2005",

month = jul,

doi = "10.1111/j.1468-0262.2005.00611.x",

language = "אנגלית",

volume = "73",

pages = "1125--1136",

journal = "Econometrica",

issn = "0012-9682",

publisher = "Wiley-Blackwell Publishing Ltd",

number = "4",

}

TY - JOUR

T1 - Probabilities as similarity-weighted frequencies

AU - Billot, Antoine

AU - Gilboa, Itzhak

AU - Samet, Dov

AU - Schmeidler, David

PY - 2005/7

Y1 - 2005/7

N2 - A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the belief formation process follows a simple formula: beliefs are a similarity-weighted average of the beliefs induced by each past case.

AB - A decision maker is asked to express her beliefs by assigning probabilities to certain possible states. We focus on the relationship between her database and her beliefs. We show that if beliefs given a union of two databases are a convex combination of beliefs given each of the databases, the belief formation process follows a simple formula: beliefs are a similarity-weighted average of the beliefs induced by each past case.

KW - Case-based reasoning

KW - Probability

KW - Relative frequencies

KW - Similarity

UR - http://www.scopus.com/inward/record.url?scp=27844436123&partnerID=8YFLogxK

U2 - 10.1111/j.1468-0262.2005.00611.x

DO - 10.1111/j.1468-0262.2005.00611.x

M3 - ???researchoutput.researchoutputtypes.contributiontojournal.article???

AN - SCOPUS:27844436123

SN - 0012-9682

VL - 73

SP - 1125

EP - 1136

JO - Econometrica

JF - Econometrica

IS - 4

ER -

Probabilities as similarity-weighted frequencies

Abstract

Keywords

Access to Document

Other files and links

Fingerprint

Cite this