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Bayesian rational prior equilibrium requires agent to make rational statistical predictions and decisions, starting with first order non informative prior and keeps updating with statistical decision theoretic and game theoretic reasoning until a convergence of conjectures is achieved. The main...
Persistent link: https://www.econbiz.de/10008560075
Through a simple thought experiment, this paper shows that there must be a shared foundation of mathematics, information science, natural science, social science, and theology. The thought experiment is to ask a volunteer to write down an arbitrary real number between 0 and 1 with many digits....
Persistent link: https://www.econbiz.de/10011108200
We describe a candid model for learning, why and how learning transpires. We investigate the original as well as the leading conditions of the learning process. We provide an insight into the realm of beliefs and their formation, their interaction and influence with the actor’s environment. In...
Persistent link: https://www.econbiz.de/10005015595