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  1. Fully Bayesian Aggregation.Franz Dietrich - 2021 - Journal of Economic Theory 194:105255.
    Can a group be an orthodox rational agent? This requires the group's aggregate preferences to follow expected utility (static rationality) and to evolve by Bayesian updating (dynamic rationality). Group rationality is possible, but the only preference aggregation rules which achieve it (and are minimally Paretian and continuous) are the linear-geometric rules, which combine individual values linearly and combine individual beliefs geometrically. Linear-geometric preference aggregation contrasts with classic linear-linear preference aggregation, which combines both values and beliefs linearly, but achieves only static (...)
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  • Why change your beliefs rather than your desires? Two puzzles.Olav Benjamin Vassend - 2021 - Analysis 81 (2):275-281.
    In standard decision theory, the probability function ought to be updated in light of evidence, but the utility function generally stays fixed. However, there is nothing in the formal theory that prevents one from instead updating the utility function, while keeping the probability function fixed. Moreover, there are good arguments for updating the utilities and not just the probabilities. Hence, the first puzzle is whether there is anything that justifies updating beliefs, but not desires, in light of evidence. The paper (...)
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