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Collecting Information To Improve Decision-Making

Author

Listed:
  • RODICA BRÂNZEI

    (Faculty of Computer Science, "Al.I. Cuza" University, 16 Berthelot St., 6600 Iaşi, Romania)

  • STEF TIJS

    (CentER and Department of Econometrics, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, The Netherlands)

  • JUDITH TIMMER

    (Faculty of Mathematical Sciences, University of Twente, P. O. Box 217, 7500 AE Enschede, The Netherlands)

Abstract

In this paper, we consider information collecting(IC)situations where an action taker in an uncertain situation can improve his action choices by gathering information from some players who are more informed about the situation. Then the problem of sharing the gains when cooperating with informants is tackled by constructing an appropriate game, theIC-game corresponding to theIC-situation. It turns out that the cone ofIC-games, given a fixed set of players, coincides with the cone of 0-normalized monotonic games with a veto player. Also special classes of convexIC-games and big bossIC-games are considered, for which more is known about the solution concepts.

Suggested Citation

  • Rodica Brânzei & Stef Tijs & Judith Timmer, 2001. "Collecting Information To Improve Decision-Making," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 3(01), pages 1-12.
    • Handle: RePEc:wsi:igtrxx:v:03:y:2001:i:01:n:s0219198901000300
    DOI: 10.1142/S0219198901000300
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    Cited by:

    1. Alparslan Gök, S.Z. & Özcan, İ., 2023. "On big boss fuzzy interval games," European Journal of Operational Research, Elsevier, vol. 306(3), pages 1040-1046.
    2. Liu, Qi & Chow, Joseph Y.J., 2022. "Efficient and stable data-sharing in a public transit oligopoly as a coopetitive game," Transportation Research Part B: Methodological, Elsevier, vol. 163(C), pages 64-87.

    More about this item

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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