Intrinsic Preference for Information
AbstractSuppose, following Kreps & Porteus (1978), that an agent values information not only to make contingent plans but also for itself; that is, intrinsically. What, then, is the relationship between an agent's attitude towards information and her attitude towards risk? If an agent always prefers more information, does this imply that she obeys the independence axiom?
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 83 (1998)
Issue (Month): 2 (December)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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