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- catalog abstract "Relative probabilities compare the likelihoods of any pair of events, even those wth probability zero. Definitions of weak and strong independence of random variables on finite relative probability spaces are introduced. The former is defined directly, while the latter is defined in terms of approximations by ordinary probabilities. Our main result is a characterization of strong independence in terms of weak independence and exchangeability. The result is applied to game theory to obtain a natural interpretation of consistent assessment, an essential yet controversial ingredient in the definition of sequential equilibrium. Keywords: relative probabilities, conditional probability systems, strong independence, weak independence, exchangeability, consistent assessments, sequential equilibrium.".
- catalog alternative "An interpretation of consistent assessments.".
- catalog alternative "On the rationale for perfect equilibrium.".
- catalog contributor b9837621.
- catalog contributor b9837622.
- catalog created "1996.".
- catalog date "1996".
- catalog date "1996.".
- catalog dateCopyrighted "1996.".
- catalog description "Includes bibliographical references (p. 33-35).".
- catalog description "Relative probabilities compare the likelihoods of any pair of events, even those wth probability zero. Definitions of weak and strong independence of random variables on finite relative probability spaces are introduced. The former is defined directly, while the latter is defined in terms of approximations by ordinary probabilities. Our main result is a characterization of strong independence in terms of weak independence and exchangeability. The result is applied to game theory to obtain a natural interpretation of consistent assessment, an essential yet controversial ingredient in the definition of sequential equilibrium. Keywords: relative probabilities, conditional probability systems, strong independence, weak independence, exchangeability, consistent assessments, sequential equilibrium.".
- catalog extent "35, [7] p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 96-072.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 96-072".
- catalog issued "1996".
- catalog issued "1996.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Independence on relative probability spaces and consistent assessments in game trees / by Elon Kohlberg and Philip J. Reny.".
- catalog type "text".