Epistemic properties of knowledge hierarchies

Article Abstract:

A study was conducted to examine the epistemic properties of belief hierarchies. Combination of the syntactic and semantic properties of a Kripke Structure yielded two polar semantic information structures, namely, partitions and nestings. The next step involved extending the basic Kripke Structure's properties to the Probabilistic Kripke Structures and then introducing the concept of a Mixed Knowledge Hierarchy and forming its syntactic equivalent using dual measures of events. Lastly, a case of 2-level Mixed Knowledge Hierarchy is applied to Decision Theory.

Information Systems & Theory, Knowledge, Theory of, Epistemology, Epistemics

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A globally and universally stable price adjustment process

Article Abstract:

An exchange economy model has a price adjustment process with features that are similar to the Walrasian equilibrium with standard conditions assumed for consumption sets and utility functions. In the case where the demand function has gross substitutibility, convergence is proved even without making differentiability assumptions. A corollary result shows that there are an odd number of Walrasian equilibria.

Pricing Policy, Research, Pricing, Price control, Price regulations, Walrasian model, Substitution (Economics)

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