I’m not sure I understand the question correctly, but what “LI” actually depends on is, more or less, a collection of traders plus a “prior” over them (although you can’t interpret it as an actual prior since more than one trader can be important in understanding a given environment). Plus there is some ambiguity in the process of choosing fixed points (because there might be multiple fixed points).
I’m not sure I understand the question correctly, but what “LI” actually depends on is, more or less, a collection of traders plus a “prior” over them (although you can’t interpret it as an actual prior since more than one trader can be important in understanding a given environment). Plus there is some ambiguity in the process of choosing fixed points (because there might be multiple fixed points).