Two Remarks on the Infinite Approximation of a Finite World in Economic Models
While the assumption of infinity is prevalent in almost every area of economics, for two well-known frameworks in decision theory, we note some fundamental differences between the finite versions and their infinite counterpart. The first is on the usage of mixed strategies in finite games, while the...
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| Format: | Article |
| Language: | English |
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Wiley
2022-01-01
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| Series: | Journal of Mathematics |
| Online Access: | http://dx.doi.org/10.1155/2022/2457746 |
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| _version_ | 1832560900131782656 |
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| author | Shravan Luckraz |
| author_facet | Shravan Luckraz |
| author_sort | Shravan Luckraz |
| collection | DOAJ |
| description | While the assumption of infinity is prevalent in almost every area of economics, for two well-known frameworks in decision theory, we note some fundamental differences between the finite versions and their infinite counterpart. The first is on the usage of mixed strategies in finite games, while the second is on a characterization of the truth axiom in models of information and knowledge, where the properties of belief can be related to the properties of preference. |
| format | Article |
| id | doaj-art-c649b1307d2b426783da5484f5ba0d08 |
| institution | Kabale University |
| issn | 2314-4785 |
| language | English |
| publishDate | 2022-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Journal of Mathematics |
| spelling | doaj-art-c649b1307d2b426783da5484f5ba0d082025-02-03T01:26:34ZengWileyJournal of Mathematics2314-47852022-01-01202210.1155/2022/2457746Two Remarks on the Infinite Approximation of a Finite World in Economic ModelsShravan Luckraz0School of Public Finance and TaxationWhile the assumption of infinity is prevalent in almost every area of economics, for two well-known frameworks in decision theory, we note some fundamental differences between the finite versions and their infinite counterpart. The first is on the usage of mixed strategies in finite games, while the second is on a characterization of the truth axiom in models of information and knowledge, where the properties of belief can be related to the properties of preference.http://dx.doi.org/10.1155/2022/2457746 |
| spellingShingle | Shravan Luckraz Two Remarks on the Infinite Approximation of a Finite World in Economic Models Journal of Mathematics |
| title | Two Remarks on the Infinite Approximation of a Finite World in Economic Models |
| title_full | Two Remarks on the Infinite Approximation of a Finite World in Economic Models |
| title_fullStr | Two Remarks on the Infinite Approximation of a Finite World in Economic Models |
| title_full_unstemmed | Two Remarks on the Infinite Approximation of a Finite World in Economic Models |
| title_short | Two Remarks on the Infinite Approximation of a Finite World in Economic Models |
| title_sort | two remarks on the infinite approximation of a finite world in economic models |
| url | http://dx.doi.org/10.1155/2022/2457746 |
| work_keys_str_mv | AT shravanluckraz tworemarksontheinfiniteapproximationofafiniteworldineconomicmodels |