Article ID Journal Published Year Pages File Type
5100153 Journal of Economic Theory 2017 5 Pages PDF
Abstract
We show, by means of a counterexample, that Propositions 3, 4, and 7 in Gul (1996) [G96] are incorrect. Our example is also a counterexample to Lemma 1 in G96, which is the basis for the proofs of these propositions. We provide insight for the source of the problem in the definition of a perfect τ-theory in G96, and then offer a modification that restores these results in G96.
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Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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