2022
DOI: 10.1016/j.jmateco.2021.102587
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Relative Maximum Likelihood updating of ambiguous beliefs

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Cited by 12 publications
(3 citation statements)
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References 26 publications
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“…In other words, objective payoff from the data-driven decision will be 1/3 from each user, strictly lower than what Netflix can get from simply ignoring the data and taking the data-free decision (1/2). The same conclusion also applies more generally to updating rules that based on maximum likelihood, such as relative maximum likelihood (Cheng, 2021) and likelihood-ratio updating (Epstein and Schneider, 2007).…”
Section: Illustrative Examplementioning
confidence: 80%
See 1 more Smart Citation
“…In other words, objective payoff from the data-driven decision will be 1/3 from each user, strictly lower than what Netflix can get from simply ignoring the data and taking the data-free decision (1/2). The same conclusion also applies more generally to updating rules that based on maximum likelihood, such as relative maximum likelihood (Cheng, 2021) and likelihood-ratio updating (Epstein and Schneider, 2007).…”
Section: Illustrative Examplementioning
confidence: 80%
“…This paper also contributes to the literature on dynamic decisions under ambiguity by proposing new updating rules for sets of distributions. See Gilboa and Marinacci (2013) and Cheng (2021) for recent developments. The essential departure of the present paper from papers in this literature is that it evaluates decisions according to an objective criterion, i.e., expected utility under the true DGP.…”
Section: Related Literaturementioning
confidence: 99%
“…In general, SEM assumes that the observational variable is a continuous variable that distributes a normal multivariate distribution [9].Thus this study analyzed the public Health Belief Model against COVID-19 vaccination, especially in Jambi City using SEM (Structural Equation Modeling) analysis. In this study, the estimation method used is Maximum Likelihood (ML) [14,15,16,17,18,19,20,21]. According to [22], ML is effective on the number of samples between 150-400 data.…”
Section: Introductionmentioning
confidence: 99%