Belief‐updating biases hinder the correction of inaccurate beliefs and lead to suboptimal decisions. We complement Rabin and Schrag's (1999) portable extension of the Bayesian model by including conservatism in addition to confirmatory bias. Additionally, we show how to identify these two...

I propose an axiomatic framework for belief revision when new information is qualitative, of the form "event A is at least as likely as event B." My decision maker need not have beliefs about the joint distribution of the signal she will receive and the payoff-relevant states. I propose three...

I propose an axiomatic framework for belief revision when new information is qualitative, of the form "event A is at least as likely as event B." My decision maker need not have beliefs about the joint distribution of the signal she will receive and the payoff‐relevant states. I propose three...