Before revision: When ambiguous beliefs are represented by multiple priors, a decision maker (DM)'s updating rule may also include a step of refining the initial belief  . Maximum Likelihood (ML) updating indicates one example of such a refinement, whereas Full Bayesian (FB) updating does not allow for any refinement.
After revision: When ambiguous beliefs are represented by multiple priors, a decision maker (DM)'s updating rule may also include refining of the initial belief . Maximum Likelihood (ML) updating indicates one example of such a refinement, whereas Full Bayesian (FB) updating does not allow for any refinement.